Sunday, June 26, 2022

Trio of Leicestershire pharmacies sold

Specialist business property adviser, Christie & Co, has sold three standard hours community pharmacies, Sonichem Pharmacy, Lads Chemist, and Health Serve Pharmacy, all located in Leicestershire.

Sonichem Pharmacy in Braunstone Town dispenses an average of 18,000 items per month, trading from a modern premises with the aid of a large dispensing robot. It had been owned by Mr Pradip Mavji for nearly 40 years and was brought to market to allow him to pursue a well-earned retirement. The business has now been sold on a freehold basis to an East Midlands operator with more than 12 units.

Lads Chemist in Evington dispenses an average of 5,700 items per month. Previously owned by Mr Anil Lad for more than 30 years, this pharmacy was brought to market to aid plans to retire. The business has been sold on a leasehold basis to an experienced buyer who operates several retail and pharmacy businesses across the East Midlands.

Health Serve Pharmacy in Highfields dispenses an average of 3,800 items per month. The business, which was previously owned by Mrs Hardika Patel, was brought to market to allow for her semi-retirement after close to 15 years of ownership. The business was sold on a leasehold basis to a first-time buyer from Leicester.

All three pharmacies attracted multiple offers and completed in excess of their guide prices.

Carl Steer, director – medical at Christie & Co, who handled the sales, says: “These completions follow a raft of sales we’ve worked on in the county over the last three years, including Shilchem, Wymeswold Pharmacy, Paul Disney Chemist, Spiers Chemist, Oakwood Pharmacy and Rothley Pharmacy.

“These six completions, along with the recent sales of Sonichem Pharmacy, Lads Chemist, and Health Serve Pharmacy show, without doubt, the robust appetite for Leicestershire pharmacies. With a few exceptions, these sales attracted swift interest, multiple viewings and offers at their full asking price or above.

“The pandemic saw a slow-down in an appetite to sell, for obvious reasons, but with the burgeoning of our applicant database, and a good appetite from banks to fund the pharmacy sector, we have a perfect blend for anyone considering a sale. Leicestershire, especially, is achieving some of the best levels of interest and offers seen across the whole of the Midlands region.”

Sonichem Pharmacy, Lads Chemist, and Health Serve Pharmacy were sold for undisclosed prices.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.







Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close