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23 July 2019 | Pharmacy and Dental Practice Mortgages

Highly experienced operator purchases Hustans Pharmacy

Specialist commercial broker Christie Finance has recently secured funding for Birmingham based Hustans Pharmacy on behalf of highly experienced operator, Mandeep Rai.

Hustans Pharmacy is located just two miles east of the city centre, in the densely populated suburb of Small Heath. A standard hours pharmacy on a popular retail parade, Hustans was sold by our colleagues at Christie & Co, who were acting on behalf of MSA Group as it no longer fit with their managed model.

Mandeep Rai, Director of Munkar Ltd, has a wealth of experience having qualified nearly 25 years ago in 1995. Since then, Mr Rai has worked as a manager, a locum and has also previously owned another pharmacy. With the acquisition of Hustans, Mandeep will returning as a hands on owner and existing team.

David Ward, Senior Director at Christie Finance, comments: “Hustans is an ideal business for Mandeep. It has huge potential as an owner-managed business and Mandeep has a tremendous amount of previous experience to bring to the table. I wish him every bit of success”

Jassi Sunner, Associate Director of Christie & Co who handled the sale comments, “The successful sale of any pharmacy is always brilliant news but this one was particularly pleasing. Our client instructed us to sell following previous unsuccessful attempts. We knew the business would be attractive to buyers, due to the location and potential but it was about finding the right buyer. Our colleagues at Christie Finance assisted the viewing process by speaking with all parties and determining who was genuine or not. After a brief conversation with Mandeep, we knew the business was ideal as he had owned pharmacies before. Accordingly, the bank supported him all the way and it was great to get him back into ownership and competing on the high street, we wish him all the success with his new venture.”