Miltons Chemists in Staffordshire sold for the first time since 1920
Specialist business property adviser, Christie & Co, has announced the sale of Miltons Chemists Limited in Staffordshire.
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Miltons Chemists Limited comprises a pair of community pharmacies operating just over three miles apart from one another in Staffordshire; one in Abbey Hulton and the other in Stoke-on-Trent. Both benefit from standard hours contracts and being operated on a fully managed basis.
The business has been owned by the same family since the 1920s – with the Abbey Hulton site acquired in 1929 and the Stoke site acquired in 1940 - with exiting owners, Mr George and Mrs Carol Snow, taking control of the business in the mid-1970s. The pair decided to sell to pursue a well-earned retirement.
Following a confidential sales process, the business has been sold to an existing pharmacy operator in the region.
Carl Steer, Director at Christie & Co, who handled the sale, comments, “We were very pleased to be able to represent the sale on behalf of the family who have been part of the pharmacies for such a long time, it was a real pleasure to act for George and Carol. With such high demand in Stoke and the surrounding Staffordshire region, together with our knowledge of our local applicants, we were able to identify, agree a sale and complete within 14 weeks, well in excess of the guide price.
“Demand for pharmacies across the county is high, with supply being far outweighed by applicant demand from first-time buyers, local group operators through to national groups operators.”
Miltons Chemists was sold for an undisclosed price.
For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Executive
P: 020 7448 8849 or E: phoebe.burrows@christie.com
Contact the agent:
Carl Steer, Director – Medical
P: 07917 475 229 or E: carl.steer@christie.com
Visit Christie & Co’s Business Search page to find out more about current medical listings.