The owner brought it to market alongside Inveraray Pharmacy and Tarbert Pharmacy to downsize his estate.
Christie & Co has revealed that Islay Pharmacy, the only pharmacy on the Isle of Islay in Scotland, has been sold for the second time in six years.
The business, which single-handedly serves the island’s population of circa 3,200 residents, has been purchased by a husband-and-wife team – Lisa and Simon Simpson – from South Shields.
Previous owner small group operator, Sanjay Majhu, acquired Islay Pharmacy in April 2018 and grew its turnover from £530,000 to just under £700,000.
He listed it for sale along with Inveraray Pharmacy and Tarbert Pharmacy as part of his initiative to downsize his estate, according to the broker.
“We decided to sell as our strategy was to acquire only within a 100-mile radius of Glasgow and Islay would be more suited for owner-operators.
“Lisa and Simon were the perfect candidates for this deal. We still plan to invest in community pharmacy moving forward and look for potential partners who want to get on the ladder,” Majhu said.
New owners, Lisa and Simon, had relocated to the Island as they wanted to have a total lifestyle change and love living and working in the Scottish Isles.
The couple said: “Having worked hard throughout the COVID pandemic, we decided we needed a change of direction in our careers.
“The next logical step for us was to become pharmacy contractors. We love Scotland and when we saw that Islay Pharmacy was for sale, we contacted Sanjay. He was brilliant to deal with and we now have our future as part of the welcoming community of Islay.”
Located on the main street in Bowmore, the quaint community pharmacy dispenses an average of 3,600 items per month, according to the broker.
Karl Clezy, Director – Medical at Christie & Co, said that it was not a typical pharmacy sale as “most buyers for island pharmacies tend to come from England looking for a lifestyle change.”
