DSP owner buys Manchester pharmacy as retiring pharmacist sells

This community pharmacy dispenses circa 1,150 items per month and is located in the Manchester suburb of Crumpsall, around three miles north of Manchester City Centre.

The business has been owned by Roger Lee (Bak Kwan Lee) since 1985 and was recently brought to market to allow him to pursue a well-earned retirement.

Following a confidential sales process with Tom Young and Jon Booth at Christie & Co, the pharmacy was under offer within less than 48 hours of hitting the market, and purchased by Nissar Ahmed, a distance-selling pharmacy (DSP) owner in the local area who plans to fully refurbish the pharmacy unit and move his existing DSP operation into the single site.

Roger Lee, former owner of Higher Crumpsall Pharmacy, comments, “I invited Tom and Jon to give me some advice on the sale of my pharmacy in February 2023 and challenged them to find me a buyer and complete the deal so that I could retire ahead of my seventieth birthday in November of the same year. I think we were all surprised with the result when we launched - a viewing on the first day and a deal done within 48 hours. I am pleased to see the pharmacy go to an energetic, young contractor with a well-thought-out plan for the future.”

Nissar Ahmed, new owner of Higher Crumpsall Pharmacy, comments, “It’s great to get this deal done and over the line. When this opportunity presented itself, it was perfect for me to realise my long-held plan of acquiring a standard hour’s contract pharmacy which I could essentially move my internet pharmacy business into and hopefully, over time, integrate the two businesses. My team and I are looking forward to the challenge which begins with investing in the site to update and modernise the business from top to bottom, so watch this space. I’d like to thank Roger for what has been a pretty straightforward handover and wish him all the very best in his retirement after so many years of service to community pharmacy.”

Tom Young, Business Agent – Pharmacy at Christie & Co, comments, “We had an incredible response to the launch of this pharmacy opportunity – we received over 45 enquiries within the first few hours of marketing. Nissar was very keen to view by the end of day one and, shortly after, the deal was done.

“We have seen a marked increase in deals across Greater Manchester in the last few years to DSP owners, often they just want a contract which is in a unit that offers them the space to move their existing operation into and, as such, if the location is right, they are willing to pay premium prices against other potential buyers. The sale of Higher Crumpsall, with its circa 1,150 items, illustrates that with the right approach to marketing a pharmacy business, there is a buyer for opportunities of any shape and size.”

Higher Crumpsall 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:
Tom Young, Business Agent – Pharmacy
P: 07831 133642 or E: tom.young@christie.com

Visit Christie & Co’s Business Search page to find out more about current medical listings.