The property advisor, Christie & Co. said that the father-son duo had been looking for a ‘pharmacy for many years’
Father and son duo acquired Yew Tree pharmacy as the owner, Lynn O’Connor, opted to retire after 14 years.
Ian and Jas Riaar, are the first-time buyers who had been looking for a pharmacy for “many years”, and were pleased to finally find the “perfect” one.
Yew Tree Pharmacy is located in the Yew Tree Estate, a residential area of Walsall, West Midlands.
The pharmacy is a standard-hours pharmacy that dispenses an average of 9,000 items per month.
It has been purchased following a confidential sales process with Carl Steer at Christie & Co., and with funding sourced through David Ward at Christie Finance.
Carl Steer, Director of Pharmacy at Christie & Co, said: “Being tasked with finding a buyer off-market can sometimes be a challenge, but we know who to speak to and were soon in receipt of numerous offers.
“We knew the buyer well by this stage as they had been looking for a pharmacy for many years, so it was particularly pleasing to finally find them the perfect pharmacy. I felt very lucky to act for such a kind, warm, patient, and charming client in Lynn O’Connor and it was equally nice dealing with such a nice family in the Riaars, he added.
“Despite the continued divestment of assets from large regional and national operators, the independent market remains resilient across the Midlands and is currently underserved with opportunities.”