North London has proved to be an incredibly sought after location within the pharmacy market in recent years and this particular opportunity was no different. J Lord Chemist is a single fronted, community pharmacy situated in a preferable position next door to both a 4 Doctor NHS practice and also a separate private GP clinic. Dispensing in excess of 11,000 items, this busy and very profitable pharmacy business was prime for a fresh, entrepreneurial approach from its new owners.
Scott Hayton, Director at Hutchings Consultants dealt with the sale and commented;
“The vendor Mr Shah owned and operated this business for a significant portion of his pharmacy career and its really been a labour of love serving the local community over the years so was a big decision to bring the shop to market after all these years. Ultimately, Mr Shah had worked very hard during his career and overall it was the right time to think about retirement. We’re delighted to have been able to assist Mr Shah in this very important step and wish him the very best going forwards into his retirement.”
Mr Shah commented; “Hutchings did a very good job. Everything went very smoothly with no hiccups and I am very pleased with the outcome.”
The business was marketed and an offer accepted from the successful purchasers in just 4 weeks of going live. The business was sold to a group of young pharmacists that were acquiring locally and it was evident from our early negotiations with the group that, despite being relatively new to acquisitions, they were very well organised and had an excellent team of advisors behind them.
Following the sale the buyers commented; “Just wanted to say a big thank you to Hutchings for helping with the purchase of Lords Chemist, I am sure we will do more business again in the coming months”
The deal struck on J Lord Chemist was a great result for both parties and we would like to take this opportunity to wish both parties best wishes for their future endeavours.