8/3/2022 | Dental Practice and Pharmacy Mortgages

Kingshield Pharmacy in Brixton Sold After 35-Year Ownership

Specialist commercial mortgage specialist Christie Finance has sourced funding for the purchase of Kingshield Pharmacy in Brixton, which has been sold through sister company and specialist business property adviser, Christie & Co.

Kingshield Pharmacy

Kingshield is a standard hour pharmacy which dispenses an average of 5,600 items per month. It occupies the ground floor of a three-storey freehold property, with an arts and crafts business above and huge potential to develop the upper floors into residential secondary retail use. The pharmacy is ideally located on a busy high street in Brixton, Southwest London, so enjoys a heavy footfall.

The business has been owned by Naishadkumar Patel for over 35 years and was brought to market to allow him to pursue a well-earned retirement. Following an open market sales process, the pharmacy has been purchased by Bhavesh Patel who also has another two pharmacies, one of which is New Park Pharmacy in Brixton.

Richard Bruton, Finance Consultant at Christie Finance, who sourced funding for the buyer, comments, “By working closely with Bhavesh, we managed to achieve a very competitive funding package which has helped him realise his business goal of expanding his pharmacy offering in South London. I look forward to seeing him develop Kingshield further.”

Jack Chard, Associate Director – Medical at Christie & Co, who handled the sale, comments, “The sale of Kingshield is yet another example of the huge amount of buyer interest we’re seeing for pharmacies in South London. This was a rare opportunity to buy a retail pharmacy alongside the freehold which hugely boosted interest and offers received from both first-time buyers and existing operators.”

For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Executive
P: 020 7448 8849 or E: phoebe.burrows@christie.com

Contact the agent:
Jack Chard, Associate Director – Medical
P: 07590 486 349 or E: jack.chard@christie.com

Contact Christie Finance:
Richard Bruton, Finance Consultant
P: 07712 198 994 or E: richard.bruton@christie.com