The business is a first-time pharmacy purchase for Rahul and Atul Sharda, with Rahul being an experienced pharmacist.
The property had spent most its life as a Post Office until 2008, when the previous owners bought the premises and then obtained a pharmacy contract. The business is now a well-established pharmacy with a strong reputation in the local community. The owners were looking to sell to explore new business opportunities.
Sold via leading pharmacy agent Christie & Co, Christie Finance Director, John Mitchell, assisted Rahul and Atul, to help guide them through the purchase and financing process.
Commenting on the deal, John said, “We are delighted to secure Rahul and Atul the funding needed to purchase their first pharmacy business. This business is a great example of a community pharmacy, and we were able to demonstrate our client’s strengths to access competitive commercial mortgage terms from a High Street lender.”
He continues: “The proposed changes in Government funding in the sector have not dampened the desire for many experienced pharmacists to own their first business. Lending to this sector is still considered an attractive risk profile and we do not foresee this appetite changing anytime soon.”