Pair of Hertfordshire pharmacies sold after 40 years of ownership
Specialist business property adviser, Christie & Co, has announced the sale of Cross Retail Limited in Hertfordshire.
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Image: Mark Page, Vijay Gandecha, new owner
Cross Retail Limited comprises a pair of community pharmacies – trading as Grange Pharmacy and Cross Chemist - which dispense a combined average of 16,000 items per month. They are located within five miles of each other in Letchworth, Hertfordshire, and are soon to benefit from a new development nearby which will increase patient numbers.
The business was previously owned by Mr Vijay and Mrs Usha Gandecha, who decided to retire after 40 years of ownership. It has been purchased by Tushar Shah of SNS Absolute Care.
Mark Page, Director at Christie & Co who handled the sale, comments, “After nearly 40 years of ownership, the sellers deserve a long and happy retirement. There was an instant reaction when we launched this group onto the market. Interest came from first-time buyers right up to established multiple operators and a deal was quickly agreed with an expanding ambitious operator from Buckinghamshire.
“Tushar comes to the pharmacy with fresh ideas and will increase the service offerings to the people of Hitchin and Letchworth. We wish him all the very best.”
Cross Retail Limited 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:
Mark Page, Director – Healthcare
P: 07764 241 279 or E: mark.page@christie.com