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01 May 2020 | Pharmacy and Dental Practice Mortgages

Christie Finance secure impressive-sized loan, sealing the deal for new entrants to the dental market

Specialist commercial finance broker, Christie Finance, supported first-time buyers, Alex Johnson and Adam Pourmahak in securing funding for the purchase of Hardhorn Road Dental Practice in Poulton-le-Fylde, Lancashire, brought to market by our colleagues at Christie & Co.

Hardhorn Road Dental Practice is a large mixed-income practice that has been serving the local community for several years. It is situated on a residential road in the historic market town of Poulton-le-Fylde, on the coastal plain, not far from the seaside towns of the Fylde Coast.

The site was previously owned by Dr Andy Brady, who has decided to sell as part of his future retirement plans but will remain working for the foreseeable future to ensure a smooth handover process.

With the help of Christie Finance, Alex and Adam were able to secure a sizeable loan from a suitable lender, which consequently secured the deal. The pair are looking to maintain the excellent reputation of the practice and introduce further specialisms in the future, commenting on their recent purchase, they said, “From the very beginning, Jawad at Christie Finance was realistic about the feasibility of the purchase and understandably kept our expectations in order. However, he was positive and reassured us that if it were not a workable deal then it would not happen, it had to work for all parties.

During the process, Jawad has been one step ahead of the situation, reacting quickly with a reasoned response to the problems that can arise when making a purchase. His experience contributed to getting the deal over the line, but also with our mental health! The different departments that Jawad had put us in touch with were invaluable, including Christie Insurance.

Jonathan Watson, Director of Medical at Christie & Co, comments, “I am delighted that the seller can now carry on practising for many years without needing to devote as much time to practice management. Given the current situation it is a real statement that deals of this size can be completed, and to independent purchasers reliant on bank funding. This sophisticated funding process was hugely aided by the tireless work and positive attitude of specialist finance brokers.”

Jawad Anjum, Director at Christie Finance, comments, “It was a pleasure to work with Alex and Adam in acquiring Hardhorn Road Dental Practice. They are both highly experienced dentists who have worked as associates at the practice for the past ten years. During this time, they have both significantly contributed to the sterling performance of the practice and have always treated it as their own. Alex and Adam undertake other roles within the dental community.

Alex works as a dental appraiser for the NHS England Commissioning Body, empowering practitioners to reflect on their practice in the four domains of clinical care, management and team leadership, communication, and professionalism. Adam delivers dental workshops on behalf of the Alzheimer’s Society and provides oral health education to primary school children aged four to 16 years old. Hardhorn Road Dental is already a highly successful business in a desirable location, and I know my clients are the perfect fit for the practice and will continue to maintain the high standards implemented by Dr Brady.

During the buying process, Alex and Adam fully trusted me to deliver on what they were looking for and were continually receptive in taking my advice as a dental finance specialist. I wish them the very best of luck in their new roles as practice owners.”