Christie & Co to manage sale of 44 Boots pharmacies

Boots UK has confirmed the sale of 44 pharmacies located across England and Wales and has appointed specialist property adviser Christie & Co to manage the sale.

This is part of the high street chain’s plan to consolidate or close a total of 200 pharmacies by the end of 2020.

Tracey Clements, Chief Operating Officer, Boots UK said, “We very much hope that these pharmacies continue to grow under new ownership. We are sure they will provide a fantastic opportunity for talented pharmacists to create a great local business.”

“The decision to sell or close a pharmacy is never easy, but we are continuing to invest in our wider store network by making our retail, pharmacy and online offer even more differentiated and personalised, with the best brands at the best value,” Clements said.

All sales are planned by May 2020 and the pharma chain called on “first-time buyers and independent pharmacists to buy a pharmacy previously run by Boots”.

“We are delighted to have been appointed by Boots UK to market 44 pharmacies by way of asset sales," said Tony Evans, Head of Pharmacy at Christie & Co.

"With dispensing volumes varying from 1,100 to in excess of 9,000 items per month, the pharmacies occupy either community, high street or health centre environments. The pharmacies offer a tremendous opportunity for first-time buyers and existing independent contractors, as well as regional multiple operators, to acquire corporately-owned pharmacies that are rarely available on the open market, as a result of which we anticipate that strong interest will be generated,” Evans added.

In its fiscal 2020 first-quarter results, Walgreens Boots Alliance (WBA), the parent company of Boots UK, again reported a decline in profits and confirmed the closure of 28 pharmacies.