The sale generated significant interest, with eight offers received from five different parties.
Specialist business property adviser, Christie & Co. has announced the sale of Manns Pharmacy, which is located in the residential area of Mapperley, Nottinghamshire.
According to the broker, the community pharmacy was dispensing an average of 5,000 items per month.
Gurinder Singh Mann, who owned the business for more than two decades, decided to put it on the market to allow him to retire.
After undergoing a discreet sales process, the pharmacy was acquired by a pair of first-time buyer friends, named Mitan Maisuria and Rahul Patel, for an undisclosed amount.
The new owners will be working together in the pharmacy going forward and they aim to increase its service offering, it said.
Carl Steer, Director – Pharmacy at Christie & Co, revealed that the sale generated significant interest, receiving eight offers from five different parties.
The funding for the purchase was sourced through David Ward, Senior Director at Christie Finance.
Ward expressed his delight in successfully arranging funding for Mitan and Rahul for the acquisition of Manns Pharmacy, especially considering the current lending market challenges compared to the same period last year.
He expressed confidence that the pair will take the pharmacy business to new levels.
As per the broker, the business was sold through an asset sale as a leasehold, but it didn’t disclose the transaction amount.
