Liz Alexander first approached Hutchings in July 2010 to gain a valuation of her pharmacy as she had been there for 25 years and was thinking of selling the business. Hutchings valued her pharmacy but it wasn’t until October 2012 when Liz decided it was the right time to sell and after a few months of discussions, it was eventually marketed in February 2013.
Further developments had happened since our first contact with Liz, with a rise in rent and the shop was also under offer with another agent in Scotland, whom she had been recommended.
However Liz had been on the market with them for a year and nothing positive had happened, just additional costs incurred and Liz had decided enough was enough.
Liz also informed us that a private buyer had approached her. Liz asked our opinion of the price they had offered and if we thought it was acceptable. We advised that we should market the pharmacy fully for her and hope to obtain a better price. We included her private buyer in the marketing hoping he may also raise his offer. However, Hutchings successfully secured Liz a buyer from Glasgow who offered 9% more than her private buyer.
The sale progressed and Hutchings liaised with all parties involved to help deal with all the queries on behalf of Liz. However, latest up to date accounts showed that the turnover had gone down from the previous year, which affected the offer. Hutchings re-negotiated the price with the buyer to a figure that Liz was happy with (still substantially more than the first offer made by the private buyer). The sale completed in September 2013 leaving Liz to finally enjoy a more relaxed life style and spend time at home.
“Having tried to sell the pharmacy previously through a Scottish agent but not progressing any further in a year, I decided it was time for a change and I chose Hutchings because of your great testimonials and your NPA recommendation. You marketed the pharmacy effectively for me by managing to achieve a price much higher than I had been offered privately. You handled all the negotiations for me, all the liaising backwards and forwards in such a calm manner – all something that I would have struggled to do on my own.
Thank you! I wouldn’t hesitate to recommend Hutchings for your speed, level of service and that the sale completed!”
Mrs Alexander, Alexander Pharmacy, Edinburgh
Hutchings were delighted to be able to assist Liz with our knowledge and experience, concluding with a very positive outcome rather than what would have been an uphill struggle on her own should she have taken on the sale privately.