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09 November 2020 | Pharmacy and Dental Practice Mortgages

Pharmacist duo purchase first pharmacy in Surrey through Christie Finance and Christie & Co

Specialist finance broker, Christie Finance, has obtained finance for the leasehold purchase of Wedeglen Limited, trading as Honeycomb Pharmacy, in Chertsey, Surrey.

The business has been marketed through specialist business property adviser, Christie & Co, with the purchase being made by qualified pharmacists, Das Subedar Singh (Subs) and Arjan Pal Singh, via their new company, Rosechem Ltd.

Honeycomb Pharmacy is strategically located at the entrance of a Sainsburys shopping centre, thus benefitting from significant passing footfall. Trade for the pharmacy is largely driven from the nearby Chertsey Health Centre, which serves around 20,000 patients and dispenses around 19,000 items on average per month. The pharmacy is well presented inside and out and is in keeping with the town centre, therefore there are no improvement works for the new occupiers to have to undertake.   

The directors of Rosechem Ltd, Das Subedar Singh (Subs) and Arjan Pal Singh, studied together at University and identified the opportunity presented by Honeycomb Pharmacy to combine their skills and grow their own business. Subs is a capable pharmacist and, along with his wife who is also a qualified pharmacist, he already owns a busy 100hr pharmacy in East Wittering. 

Honeycomb Pharmacy provides a significant growth opportunity which is an exciting prospect for the duo. The new owners are looking to focus on delivering to care homes in the area and building upon existing relationships with GPs and further surrounding practices. They will enhance service provision, which will include flu vaccinations, smoking cessation, and meds check. They also intend reaching out to their customer base by fully marketing the wider services they will bring to the pharmacy.  

Mr Singh and Mr Bhambra of Wedgeglen Ltd comment, “This is a very exciting time, and we look forward to working with the established team at Honeycomb Pharmacy and continue to offer the very best service to new and existing customers. Honeycomb Pharmacy is an established community business, and we are committed to building on its strong reputation. The help of Gary Boyce at Christie Finance has been a massive benefit throughout this process. We could not have done it without him due to his help in overcoming the many hurdles faced in completing the purchase.”

Gary Boyce, Finance Consultant for the deal, comments, “We were delighted to assists Arjan and Subs with the purchase of Honeycomb Pharmacy. With them both being experienced pharmacists, and where Subs and his wife already own their existing pharmacy business, they are well placed to grow Honeycomb Pharmacy. With the support of the bank introduced by Christie Finance, we wish them our very best.”