First-time buyer snaps up Hampshire town pharmacy
Specialist business property adviser, Christie & Co, has announced the sale of Bishops Waltham Pharmacy near Southampton, Hampshire.
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Bishop Waltham Pharmacy is a well-established community pharmacy that provides NHS and private services and dispenses an average of 6,200 items per month. It is located in the centre of the Hampshire market town of Bishop’s Waltham near Southampton.
The business was previously owned by multi-operator, Matrix Primary Healthcare Ltd. Following a confidential sales process with Jonathan Board at Christie & Co, and with funding sourced through Gary Boyce at Christie Finance, the pharmacy has been sold to Mr Madhu Bhogadi, a local experienced Pharmacist making his first move into pharmacy ownership.
Akwal Singh, Director at Matrix Pharmacy Healthcare Ltd, comments, “It took us a while to decide to market one of our off-patch pharmacies, albeit confidentially, as we haven't sold a business in many years. We were fortunate to attract strong interest in the pharmacy from the start, and I'm delighted with how things went. We're extremely pleased with the outcome and do not doubt that Madhu will be able to take the business to new heights.”
Mr Madhu Bhogadi, the new owner of Bishops Waltham Pharmacy, comments, “I’m delighted to have acquired the community pharmacy in Bishops Waltham. It is a business that I am looking forward to growing over time, becoming an integral part of the local community for many years to come, and really making the business my own."
Jonathan Board, Director – Medical at Christie & Co, comments, “I was delighted to act on the sale of this pharmacy and deal with Madhu on his purchase. The vast majority of active buyers at the moment are independent operators, and this is a perfect example of what they normally look for – a well-established pharmacy that would benefit from renewed enthusiasm and energy. I wish Madhu the very best in his new business.”
Gary Boyce, Director at Christie Finance, comments, “It’s been a pleasure arranging funding for Madhu and helping him overcome the many challenges in completing his first pharmacy purchase. Bishops Waltham Pharmacy provides an ideal opportunity for him to implement his exciting plans, which he’s developed from a wide variety of Pharmacist roles performed to date. We look forward to seeing him develop the business and be ready to support his next venture.”
Bishops Waltham Pharmacy was sold for an undisclosed price.
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For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Manager
P: 07540 063 598 or E: phoebe.burrows@christie.com
Contact the agent:
Jonathan Board, Director – Pharmacy
P: 07775 807071 or E: jonathan.board@christie.com
Contact Christie Finance:
Gary Boyce, Director
P: 07974 800 752 or E: gary.boyce@christiefinance.com
Visit Christie & Co’s Business Search page to find out more about current medical listings.