‘There is a resurgence in demand for pharmacies that dispense below 4,000 items’
Independent pharmacy chain, Peak Pharmacy, has sold two of its smaller branches - one in Little Eaton, Derbyshire, and the other in Burton-on-Trent, Staffordshire.
Founded in 1981 by Peter and Jane Cattee, Peak Pharmacy has over 150 pharmacies across the UK.
The pair of Midlands pharmacies dispense an average of circa 2,800 items per month, according to specialist business property adviser, Christie & Co, which announced the sale.
The pharmacy in Burton-on-Trent has been acquired by a local first-time buyer, Mohammed Wasim Gul, while the pharmacy in Little Eaton has been purchased by Amul Telrandhe, who is also the owner of Derwent Pharmacy in Derby.
Although the sale of small pharmacies can be challenging at times, there is a noticeable resurgence in demand for pharmacies that dispense below 4,000 items, said Carl Steer, Director – Pharmacy at Christie & Co.
He revealed that both Peak Pharmacy pharmacies attracted “multiple offers” and were placed under offer shortly after launching to the market.
Specifically, Steer expressed satisfaction in selling a second pharmacy to Amul, especially considering they had previously sold him his first pharmacy, Derwent Pharmacy, a few years ago.
The two branches of Peak Pharmacy were sold through asset sales, with one being leasehold and the other freehold. The prices for the transactions were not disclosed.
