Funding Secured for acquisition of North Leeds Pharmacy
Adel Pharmacy, a long-established pharmacy in the suburb of Adel in north Leeds, has been sold to new owners, with funding sourced through Christie Finance.
Christie Finance
Located within the Adel Health Hub, the standard-hours community pharmacy dispenses over 4,000 items per month and is surrounded by a range of private healthcare providers, including a GP, physiotherapist and aesthetics clinic.
The pharmacy was previously part of a wider portfolio owned by M&B Healthcare Ltd, which operates nine other sites across the north-west. The group decided to sell Adel Pharmacy as part of a strategic review, given its location outside their core geography.
The buyer, SAAAI Pharma Ltd, is a northern-based business owned by five pharmacists, led by Shahbaz Mirza and Abbas Fazal. The acquisition was supported with funding arranged by Alena Ray at Christie Finance.
Peter Burrows, owner at M&B Healthcare Ltd, said: “When we had a strategic review of our group, we saw Adel as an ideal site to dispose of, due to it sitting outside of the geography of our other branches which are based in the north-west. Naturally, we called Christie & Co and, whilst there was plenty of interest in the site, it was pleasing to do the deal with Shahbaz who is an operator based in Leeds. We wish him all the very best with the business in the future.”
Shahbaz Mirza, co-owner of SAAAI Pharma Ltd, commented: “We decided to purchase this pharmacy due to its convenient location close to home, which not only supports ease of management but also aligns with our desire to serve the local community. Another key factor in our choice was the limited competition in the area, presenting a unique opportunity to strengthen our foothold in the market. We plan to build upon the solid foundation laid by M&B Healthcare, whose efforts have already established the pharmacy as a trusted presence in the community.”
Tom Young, who handled the sale, added: “When we went to market, we received multiple offers in just two weeks, from both first-time buyers and existing operators. It was great to see such strong demand, and we are pleased the pharmacy will remain in the hands of local professionals with a hands-on approach.”
Looking to fund your next pharmacy acquisition, contact:
Alena Ray
Director
Christie Finance
T: 07701 315 796
E: alena.ray@christiefinance.com