Belfast-based Cowzers Pharmacy was recently sold to a group operator, Northern Pharmacies, which owns six other branches in Northern Ireland, for an undisclosed price, Christie & Co has reported.
Located on the Ormeau Road in Belfast, it has been owned by Gary Jones since 1996 and was recently brought to market to allow him to retire.
The pharmacy dispenses an average of 4,800 NHS script items per month and sells a healthy amount of retail and over-the-counter items.
Christies & Co director Karl Clezy, who facilitated the sales process, said, “We received a lot of enquiries on this pharmacy due to its location in Belfast.
"It was a leasehold property, and the deal could only happen once the current lease was extended, which did happen in time for the deal to complete in just over two months after solicitors were instructed.”
Soho pharmacy sold
Birmingham-based Soho Pharmacy was recently sold for an undisclosed price to husband-and-wife team, Mo and Faiza Rafiq, who currently own an online pharmacy business in the area and wanted to expand into a community pharmacy, Christie & Co has reported.
Soho, owned by Hardial Uppal since 2015, is a standard hours community pharmacy that dispenses an average of 20,000 items per month. It was recently brought to the market to allow Uppal to retire.
Carl Steer, director - Pharmacy at Christie & Co, who facilitated the sale process, said, “We’ve gone full circle in 11 years - from selling the pharmacy to Hardial in 2015, we have now had the pleasure of completing the sale for him to allow him to retire.
“Hardial and I had been meeting for a few years, providing advice and keeping him up to date with the market at various times. We advised holding off on going to market for the first few years, as the market wasn’t yet right to bring Hardial close to his expectations.
"He followed that advice until we felt his business and the market were ready. We launched the sale off-market, approaching just 12 potential buyers, and a sale was agreed in just 22 days. A great result and swift conclusion to what was three to four years in the making."
