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Local pharmacy investment acquisition is just what the doctor ordered
A Northamptonshire shop let to a national pharmacy chain has exchanged hands in a deal brokered by commercial property consultancy Kirkby Diamond.
The freehold retail unit, in a prime town centre location at Watling Street, Towcester, has been acquired by a longstanding private investor client for an undisclosed sum. Lloyds Pharmacy occupies the 3,823 sq ft property on a six-year lease from December 2021.
Mark Hannam, partner and head of professional services at Kirkby Diamond, said: “We were instructed by a longstanding client, a private investor, to identify and acquire a prime town centre retail investment.
“We were very pleased to complete the deal on our client’s behalf, providing the full service from identifying suitable investments that fit the client’s criteria and securing the investment following a competitive bidding scenario.
“We are now undertaking the ongoing property management to ensure the asset value is maintained whilst looking at ways to add value.”
The property is a three-storey, mid terrace building. It has a ground floor retail unit with ancillary storage on the first and second floors.
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Revenue and profits jump at Ibstock
Ibstock has hailed a strong trading performance for the year ended 31 December 2022, with both revenue and profit materially ahead of both the prior year and pre-pandemic comparators.
The manufacturer of clay bricks and concrete products and solutions has posted revenue of £513m, up from £409m in 2021, while pre-tax profits rose to £105m from £65m.Joe Hudson, Chief Executive Officer, said: “These strong results reflect our continued focus on commercial and operational execution, which has enabled the Group to deliver significant growth and improved returns despite a challenging backdrop.
“Revenue and profit were materially ahead of both the prior year and pre-pandemic levels, reflecting the strategic progress we have made over the last five years, with the development of a high quality, lower cost and highly efficient asset base allied to the strength of our market positions.
“We have faced into the challenges of recent years to emerge as a more diverse, higher quality business, with a strong management team and a clear strategy focused on value creation in the years ahead.
“As we face another period of uncertainty, we will draw on this experience to optimise our performance in the short term, while continuing to invest in, and diversify, the business to ensure we remain well placed to deliver on our medium-term targets.
“Activity in the early weeks of 2023 has continued to reflect the more subdued demand environment experienced towards the end of last year, although we anticipate this to improve as the year progresses.
“With the strong strategic platform we now have in place, I am confident both in our ability to respond effectively to conditions this year, and to achieve significant growth over the medium-term.”
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Three women trailblazers from East Midlands win national award and £50,000 each
- Dr Victoria Kroll from Nottingham, who is determined to decrease road traffic deaths in the UK each year, has founded Esitu Solutions, designing driver assessment and VR training tools. The idea, based on a decade of scientific research, is to identify drivers who are more at risk of collision through a driver profiling system and provide tools to improve their skills and reduce these chances.
- Kate Allan from Loughborough, founder of ExpHand Prosthetics, who was inspired after meeting a young girl who needed a prosthesis to design a lightweight, adjustable, affordable and colourful prosthetic that grows with the user, encouraging children to use prostheses and with confidence.
- Miriam Silver, from Matlock, who founded BERRI, a digital toolset for parents who are concerned about their child’s mental health and are unable to access the support they need. BERRI can identify, track, and support the psychological needs of children (aged between 4 – 21 years), and provides individualised reports to advise their carers.