Christie & Co has this month facilitated the sale of three pharmacies in different parts of the country.
Lumley Pharmacy
This high-volume pharmacy in County Durham, with an exceptional average of 15,550 items per month, was sold by Kim Gamble to a local pharmacy chain owner Sri Kanaparthy, for an undisclosed sum.
Gamble, who owned the pharmacy since June 2022, decided to sell it to focus on her two other pharmacies in County Durham.
Lumley Pharmacy offers a range of services, including Pharmacy First, blood pressure monitoring, the New Medicine Service, emergency hormonal contraception, and drug misuse services. It operates a monitored dosage system service for approximately 220 patients and delivers prescriptions to around 30 patients each day.
Kanaparthy, who owns 10 other pharmacies across County Durham and Gateshead, said: “We are pleased to acquire Lumley Pharmacy, which is a great fit for our group. We look forward to transforming this pharmacy for what would be fit for the decades to come.”
Gamble said: “Selling a business that you have put so much into is never an easy decision, but I’m delighted that Lumley Pharmacy is passing into the hands of an experienced pharmacy operator. I wish Sri and the team every success for the future and hope the pharmacy continues to be an important part of the Great Lumley community for many years to come.”
The sale process was facilitated by Karl Clezy, Director, Christie & Co.
“I was confident that Lumley Pharmacy would attract a lot of interest from buyers across the north of England due to its high dispensing numbers and its ideal location next to a busy GP surgery. Demand for northeast pharmacies remains high and deals are being agreed after less than a month on the market,” he said.
Qrystal Pharmacy
This pharmacy on Borough High Street in London, is located close to The Shard and Borough underground station. It was sold to first-time buyers, Manisha and Shrikant Galande, for an undisclosed sum.
The current owner, Asif Qureshi, brought the pharmacy to market as part of his retirement plans.
The sale was facilitated by Mark Page at Christie & Co, and the new owners had availed a loan from Christie Finance.
Qureshi owned the pharmacy for more than 15 years, and relocated the business to its current premises in 2022.
Located in London’s prominent Zone 1 location, the pharmacy dispenses an average of 5,500 items per month and provides a range of NHS and private services.
This includes New Medicine Service, NHS blood pressure checks, seasonal flu vaccinations, and a private travel clinic.
Ascent Pharmacy
This standard-hours community pharmacy in Wollaton, Nottinghamshire was sold by Ascent Healthcare Limited to local first-time buyer, Nisha Kaur, for an undisclosed amount.
Ascent Pharmacy dispenses approximately 5,000 items per month and provides Pharmacy First services, vaccinations, and weight management consultation.
Ascent Healthcare sold the pharmacy as part of its strategic divestment.
The confidential sales process was headed by Carl Steer, Director - Pharmacy at Christie & Co.
Steer said: “The sale attracted multiple offers and was agreed within six weeks of marketing commencing, showing yet again the strength of the Midlands pharmacy market.”
