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High-dispensing pharmacy sold after 50 years, Matrix Pharmacy offloads off-patch branch

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A first-time buyer has taken over Bishop Waltham Pharmacy, previously owned by Matrix Primary Healthcare Ltd.

Christie & Co, a specialist business property adviser, recently finalised the sale of two pharmacies—one located in Wales and the other in Hampshire.

Sylvia Williams Chemist, a well-performing community pharmacy located on the main high street of the Vale of Glamorgan market town of Cowbridge, has been sold after an impressive 50 years of ownership.

Dispensing an average of 12,500 items monthly, the business has been owned by Kate Thomas and her family for nearly 50 years. It was put on the market to enable her retirement and allow her to focus on other interests, the broker said.

The pharmacy has been purchased by Zaid Salih, making it his second pharmacy acquisition.

Jonathan Board, Director – Medical at Christie & Co, who handled the sale, said that Sylvia Williams Chemist attracted a wide range of buyers.

He said that pharmacies with “a healthy level of prescriptions, a good level of footfall, and space for the delivery of additional services” are currently in demand, and it was one of them.

“Despite ongoing operational challenges in the marketplace, it is showing remarkable resilience and there remains significant demand for well-established and well-located pharmacies such as this one,” he added.

Photo credit: Christie & Co

In a separate transaction, a first-time buyer has acquired Bishops Waltham Pharmacy near Southampton, Hampshire.

Previously owned by multi-operator, Matrix Primary Healthcare Ltd., this well-established community pharmacy provides NHS and private services, dispensing an average of 6,200 items per month.

Following a confidential sales process, the pharmacy has been sold to Madhu Bhogadi, an experienced local pharmacist embarking on his first venture into pharmacy ownership.

Akwal Singh, Director at Matrix Pharmacy Healthcare Ltd, shared that it took them some time to decide to market one of their off-patch pharmacies, as they hadn’t sold a business in many years.

“We were fortunate to attract strong interest in the pharmacy from the start, and I’m delighted with how things went. We’re extremely pleased with the outcome and do not doubt that Madhu will be able to take the business to new heights,” he said.

Bhogadi, the new owner of Bishops Waltham Pharmacy, is looking forward to growing the business over time, aiming to make it an integral part of the local community for many years and to truly make it his own.

Jonathan noted that currently, the majority of active buyers are independent operators seeking well-established pharmacies that could benefit from renewed enthusiasm and energy.

 

 

 

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