Wales, London and the South

The south west England and south Wales market is busy, with first-time buyers prominent in the market looking for pharmacies in larger towns and cities as well as in rural areas where there is “excellent value for money”, according to pharmacy brokers Christie & Co.

Its senior business agent Richard Thomas says operators with two or three pharmacies are increasingly looking to expand and “sometimes aggressively” when opportunities arise.

The introduction of the electronic prescription service (EPS) in Wales is “creating better value for more rural pharmacy businesses” in the area.

Prices for pharmacies have “stablised” but both areas offer “fantastic value” compared to expensive areas such as south east England.

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In London and the south east, a “balanced pipeline” of independents and small group pharmacies are on the market as buyer demand is strong, particularly in built-up areas with higher footfall.

North west London is in the most demand across the capital and where Christie expects “multiple bids and rapid engagement”. But pharmacies making just over £1m in annual turnover are the most attractive to all buyers.

Christie & Co director Mark Page says it leads to rural locations often being “overlooked” in these areas, despite the potential for “attractive margins and strong community loyalty”.

Morningside Pharmacy Group

An eight-strong Midlands pharmacy portfolio has been sold off individually.

The Morningside Pharmacy Group had eight pharmacies located by medical centres, in villages, or on high streets across Leicestershire, Derbyshire and Northamptonshire, and its previous owner will now retire.

Read more: Inside the deal for Allied and Jhoots Pharmacy

They collectively dispensed around 75,000 items per month, and Hutchings managing director Scott Hayton said the pharmacies’ location along the M1 corridor opened up a wider pool of buyers.

“We are pleased to see the respective buyers making a strong start as they take these pharmacies forward,” Hayton added.

Healthplan Ltd

A group of two Wolverhampton pharmacies has been bought by a small West Midlands group.

Essington Pharmacy and HN Pharmacy have been sold under the Healthplan Ltd group to Jacksons Pharmacy Ltd after an “of-market approach” with 10 buyers interested, according to Christie & Co.

Read more: Buying + Selling: Hutchings UK market updates, Cohens acquisition and Scottish market exit

The sale was agreed in just six weeks as Jacksons Pharmacy Ltd will expand on the 15 pharmacies it has in the West Midlands, with the group run by the Grewal brothers Amanjeet, Indy and Harmeet.

The two pharmacies dispense around 22,000 items per month together and its previous owner Janak Patel will now retire after having both since 1986 and 1993.

R W Wilson Pharmacy

A husband-and-wife team have doubled the pharmacies they own after purchasing a high-dispensing north east pharmacy.

Jagdeep and Jutinder Kaur already own a pharmacy in the Newcastle area, but now have bought R W Wilson Pharmacy in the village Winlaton with its owners deciding to retire.

Read more: ‘Strong market’: Eight in 10 plan to buy and/or sell pharmacy by 2028

Set in the village’s main shopping parade close to two GP surgeries, it dispenses 15,000 items per month.

Christie & Co pharmacy director Karl Clezy said its “strong trading performance and location” attracted lots of interest, and the Kaur’s said they wanted to build on the “pharmacy’s already excellent reputation by expanding the services”.

Ward Green Pharmacy

A south Yorkshire pharmacy has been bought by a small group owner who now runs 10 pharmacies across the UK.

Rehan Nawaz of Pharmasurge Partnerships purchased Ward Green Pharmacy which dispenses around 6,595 items per month.

Located on the outskirts of the centre of Barnsley, Christie & Co said 10 offers came in within three weeks of it being on the market either above or at guide price.

Read more: Seller instructions rose by 91%, reveals pharmacy brokers

Retiring former owner Tom Bisset said he’s pleased to be handing over to “to an experienced and forward-thinking pharmacist” and Nawaz said it would complement his other branches in Yorkshire and south England well.

“I plan to introduce new services at the pharmacy and continue building on its excellent reputation,” he added.

A.S. Carlton Pharmacy

A West Yorkshire pharmacy has been sold to local first-time buyers.

Ossett’s A.S. Carlton Pharmacy dispenses around 7,200 items per month and was bought by brothers Mahmood and Maqsood Din from nearby Huddersfield.

Read more: Pharmacy chain selling over half its estate for £3.2m

The sale was agreed within six weeks of it going to market and will allow its previous owners, the Carlton family, to retire after 20 years of ownership.

Hutchings managing director Scott Hayton said the pharmacy’s location in “close-knit market towns such as Ossett” appealed to the first-time buyers who want to build on the pharmacies close relationships with patients.

Magrath Pharmacy

A family-run Staffordshire pharmacy since 1971 has been sold to one of its extended family members.

Tamworth’s Magrath Pharmacy has been owned by the Magrath family but the founder’s son Andrew is now selling to his cousin Kieran Eason, who also owns Eason’s Pharmacy in Tamworth.

Dispensing a healthy 10,000 items per month on average and located in a health centre, Magrath sold it so he could focus on his interests in the clinical side of the sector.

Ewell House Pharmacy

A 150-year old pharmacy in a picturesque Surrey village has been bought by a first-time buyer.

Previous owners Stanislaus and Freda Mandona sold Ewell House Pharmacy to spend more time with their grandchildren, and new owner Martin Eguridu wants to expand its services on offer.

“What attracted me to this pharmacy was its location, its strong foundation, and its 150-year history of serving the community, a great platform to build on,” Eguridu added.

Dickies Pharmacy

An Aberdeen pharmacy has been sold to a husband-and-wife team.

Dickies Pharmacy owner Brian Arris sold the Waverley Place branch as it suited an owner-pharmacist operation, with city locals Yousef and Tatum Al-Obaidi buying their first pharmacy from Arris.

Arris still owns the other six Dickies branches in Aberdeen and the three across Perth and Forfar, but he said the turnover for this pharmacy needed to be higher for group operators like himself to make it viable.

“Tatum and Yousef, both being prescribers, together with their enthusiasm and drive to introduce new services, will build the business and make a big success of it,” he added.

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The pharmacy dispenses around 2,000 items per month, and it is located close to two GP practices as well as being half a mile from Aberdeen city centre.

Christie & Co pharmacy director Karl Clezy said the pharmacy suited a first-time buying pharmacist.

“We see this in most towns across Scotland, including in the north of Scotland, where there is always a good demand from first-time buyers. Less expensive pharmacies in smaller towns and more rural locations provide good opportunities for pharmacists looking for their first acquisition,” he said.

Benson Pharmacy

A small pharmacy group owner has bought a West London pharmacy from a retiring owner. 

Chirag Shah of ProCare Pharmacy, which own pharmacies in north west London, bought Benson Pharmacy which is located between Paddington train station and Royal Oak tube station.

It dispenses 11,000 items per month on average and previous owner Vijay Patel who owned the pharmacy for over 40 years, will now retire.

Ditchling Pharmacy

A husband-and-wife team have bought their first pharmacy in the West Sussex village they live in.

Kevin and Giauri Patel are first-time buyers and bought Ditchling Pharmacy in Hassocks from retiring husband-and-wife team Victor and Debbie Andrews.

The pharmacy dispenses around 2.600 items per month and Christie & Co said demand for pharmacies in the south east “continues to grow”.

Pleasley Pharmacy

A Nottinghamshire pharmacy has been sold to allow for retirement.

Pleasley Pharmacy’s previous owner David Hayes will now retire after a “swift and efficient” sale process as completion took three months, according to Hutchings.

It said experienced buyers will take over the pharmacy which dispenses 12,000 items a month.

Read more: Buying + Selling: Morrisons sales, £3.2m portfolio, and a retiree leaving Welsh town under ‘threat’

Healthplan Ltd, R W Wilson Pharmacy, Ditchling Pharmacy, Benson Pharmacy, Ward Green Pharmacy, Magrath Pharmacy, Ewell House Pharmacy and Dickies Pharmacy were sold for undisclosed prices.