The popular Blackpool pharmacy business has been acquired by a first-time buyer
O’Briens Pharmacy Group has sold Bispham Pharmacy as part of a strategic review of its nine-site portfolio, now reduced to eight, across the Fylde coast region.
Christie and Co, the property adviser, recently announced that the group’s popular Blackpool pharmacy business has been acquired by first-time buyer, Arif Bhuriya.
Bispham Pharmacy, which dispenses around 4,500 items per month, is situated in the heart of Bispham’s commercial centre, opposite a bustling shopping area. The community pharmacy has been in this location since February 2021, following a minor contract relocation.
O'Briens Pharmacy Group provides pharmacy services across Fleetwood, Thornton-Cleveleys, Bispham, Burscough, Liverpool, and surrounding areas.
Aisling O’Brien, owner of O’Briens Pharmacy, explained the rationale behind selling the Bispham site: “When we had a strategic review of our group, we saw Bispham as an ideal site to dispose of, knowing it would fare much better in the current climate as an owner-operated site.
“Naturally, we called Christie and Co and, whilst there was a good deal of interest in the site, it was pleasing to do the deal with Arif whom I am familiar with as a fellow LPC member. We wish him all the very best with the business in the future.”
Bhuriya, the new owner, plans to build on the pharmacy’s steady growth, particularly following the closure of a nearby Lloyds Pharmacy in Sainsbury’s last year. He aims to further increase item numbers while maintaining a focus on high levels of customer service and service delivery.
Having finally acquired his first pharmacy business after searching for a couple of years, Arif expressed his excitement:
“Bispham was an area which I am familiar with so when I saw the opportunity hit the market, I knew that it was a site that I could take to the next level. The hard work starts now but I’d like to thank Aisling O’Brien for all her help in working towards a successful sale and I am excited to start work on my plans for the business and the people of Bispham.”
Jon Booth, Director of Pharmacy at Christie and Co, who managed the confidential sales process, highlighted the nature of the deal: “Whilst this deal was not without the usual challenges around funding and property matters, it is very much the type of deal we have seen in volume across the Northwest this year.”
Booth believes that as an owner-operator, Arif can identify improvements and make changes by being directly involved in the daily operations of the pharmacy, delivering first-class service to local patients.
Craig Dickson, Director at Christie Finance, who assisted Arif in securing the funding, is confident that Arif will be hands-on in running the pharmacy, and the business will thrive under his ownership.
“Arif had been looking to acquire his first pharmacy for some time and, after a few false starts, he identified Bispham as an ideal opportunity moving forward.
“I met with him, explained the funding process, then put together a pack of supporting information for our lender contacts and quickly secured excellent terms. Arif will be very much hands-on being the owner pharmacist and I’m sure the business will go from strength to strength,” Dickson said.
The sale price of Bispham Pharmacy was not disclosed.
