Park Lane Orthodontics in Reading sold to London-based dentist
Specialist business property adviser, Christie & Co, has announced the sale of Park Lane Orthodontics in Reading. Funding for the sale was sourced through Christie Finance.
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Established in 1999, Park Lane Orthodontics is a fully private, two-surgery practice solely offering orthodontic work to a mix of adolescent and adult patients. It is located in the residential suburb of Tilehurst in west Reading, close to expansive countryside, the Chiltern Hills and North Wessex Downs.
The business was purchased by the outgoing Principals, Ben and Paula Buffham, in 2005 who took on Park Lane with a view to establishing a high-quality specialist practice with a focus on patient consent and an informed patient journey. The pair decided to sell in order to begin a long-term handover with a view to relocating to the South West in a few years’ time.
The practice has been sold to London-based practice owner, Dr Patel, who comments, “I was really interested in this practice because of its fantastic people, who I've known for over 20 years, and the fact that it is a business I think I can grow and expand. Going forward, we will try to improve on the amazing systems Paula and Ben already have in place.”
Oliver Brown, Associate Director at Christie & Co, who handled the sale, comments, “I’m delighted we were able to achieve such a good result in a short time frame for Ben and Paula. Spending time with them at the outset allowed us to really understand their goals and match them with the best buyer.
“Demand for all practice types, but particularly orthodontic practices, remains very high at the moment and Christie & Co continues to lead the market in overachieving for practice owners.”
Gary Boyce, Director at Christie Finance who sourced funding for the buyer, comments, “It was a pleasure to assist Dr Patel with the acquisition of Park Lane Orthodontics. With the majority of lenders preferring to lend to purely NHS or mixed general practices, rather than private orthodontic practices, we focused on his significant background in specialist private dentistry and his successful previous business ventures. We were able to provide the necessary comfort to his new lender, enabling them to support the purchase. Dr Patel’s exciting plans will no doubt allow him to build on the existing services provided and take the practice to another level. We wish him every success in the future.”
Park Lane Orthodontics 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:
Oliver Brown, Associate Director – Dental
P: 07764 241 364 or E: oliver.brown@christie.com