Kingshield is a standard hour pharmacy which dispenses an average of 5,600 items per month. It occupies the ground floor of a three-storey freehold property, with an arts and crafts business above and huge potential to develop the upper floors into residential secondary retail use. The pharmacy is ideally located on a busy high street in Brixton, South West London, so enjoys a heavy footfall.
The business has been owned by Naishadkumar Patel for over 35 years and was brought to market to allow him to pursue a well-earned retirement. Following an open market sales process, the pharmacy has been purchased by Bhavesh Patel who also has another two pharmacies, one of which is New Park Pharmacy in Brixton.
Jack Chard, Associate Director – Medical at Christie & Co, who handled the sale, comments, “The sale of Kingshield is yet another example of the huge amount of buyer interest we’re seeing for pharmacies in South London. This was a rare opportunity to buy a retail pharmacy alongside the freehold which hugely boosted interest and offers received from both first-time buyers and existing operators.”
Richard Bruton, Finance Consultant at Christie Finance, who sourced funding for the buyer, comments, “By working closely with Bhavesh, we managed to achieve a very competitive funding package which has helped him realise his business goal of expanding his pharmacy offering in South London. I look forward to seeing him develop Kingshield further.”
Kingshield Pharmacy was sold for an undisclosed price.