The high dispensing Sheffield pharmacy has been owned by the Armstrong family since 1957
Armstrong’s Pharmacy in Sheffield, South Yorkshire has been sold for the first time in 67 years for an undisclosed price.
Located on the corner of Gleadless Road, three miles south-west of Sheffield City Centre, the pharmacy dispenses an average of 11,332 items per month, according to Christie and Co, the broker that facilitated the sale.
Owned and operated by the Armstrong family since 1957, the business has been acquired by a husband-and-wife team of first-time buyers.
The new owners, whose identities were not disclosed, plan to expand the pharmacy by adding more consultation rooms and increasing services offered to the local community.
Chris Armstrong, the previous owner, ran the business with his wife Jane before deciding to sell in preparation for their retirement.
Commenting on the sale, Chris said: “It was a big decision to sell our multigenerational business but, when it was time to retire, we were glad that Christie and Co were able to quickly market the business successfully.”
“We had three viewings and three offers in the first few weeks of marketing, and it is pleasing that the new owners are a young, motivated husband and wife team with plans to enhance what we have done with the business as a family. We wish them all the very best and we are looking forward to our retirement.”
Tom Young, senior business agent – pharmacy at Christie and Co, described Armstrong’s Pharmacy as “a fantastic example of a well-run independent community pharmacy with good margins, a well-drilled team, and owners who really worked hard to provide top-class service to their community.”
He added that, as the supply of these types of opportunities across South Yorkshire has been limited in recent years, they were inundated with enquiries from first-time buyers and existing operators alike, when we launched the business to market, which was expected.
“We look forward to seeing the new owners take what the Armstrong family has built over many years and enhance that with their own ideas,” he added.
