Monday, April 15, 2024

New owners for pair of Midlands pharmacies

Specialist business property adviser, Christie & Co, has sold a pair of Midlands pharmacies trading as Peak Pharmacy.

Founded in 1981 by Peter and Jane Cattee, Peak Pharmacy is an independent pharmacy chain with over 150 pharmacies across the UK.

The company decided to sell two of its smaller branches – one in Little Eaton and one in Burton-on-Trent – which dispense an average of circa 2,800 items per month.

Following a confidential sales process with Carl Steer at Christie & Co, the pharmacy in Burton-on-Trent has been purchased by local first-time buyer, Mohammed Wasim Gul, and the pharmacy in Little Eaton has been purchased by Amul Telrandhe who also owns Derwent Pharmacy in Derby.

Carl Steer, Director – Pharmacy at Christie & Co, says: “The sale of small pharmacies can sometimes prove challenging, however, we are seeing a resurgence in demand for pharmacies dispensing below 4,000 items. Both pharmacies attracted multiple offers and were placed under offer shortly after launching to the market.

“It was particularly pleasing to sell a second pharmacy to Amul after we sold him his first pharmacy – Derwent Pharmacy – a few years ago.”

The two Peak Pharmacy branches were sold leasehold and freehold respectively via asset sales for undisclosed prices.

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