Mr Patel, the owner of Jaywick Pharmacy contacted us to take over the sale of his pharmacy because he had been trying to sell and had been let down by his buyer just before completion. Mr Patel also wanted a quick sale due to personal reasons. Having built up this successful business over 4 years, Mr Patel now wanted to retire from pharmacy work.
At Hutchings, our team has over 80 years’ experience in pharmacy sales. We realise how important the sale of a business is and we take time to understand what is important to the vendor and ensure our service reflects that. By doing this, we are then to able to identify prospective buyers which would have the “right fit” for our clients business.
The pharmacy was situated in an unopposed location close to large residential areas and was extremely well fitted out with private parking areas. A new lease had been created for 20 years and the pharmacy was located just over a mile away from a Medical Centre.
To achieve a quick sale, we marketed the shop to a target group of buyers that were registered with us whom we knew had funding in place. We received immediate interest which generated viewings within 7 days. Our objective as a company is always to maximise the net sale proceeds for our clients and we managed to negotiate an offer which was accepted by Mr Patel within 10 days of being instructed. We could have marketed the pharmacy for longer but Mr Patel wished to proceed as quickly as possible and was delighted with what we had achieved for him in such a short timescale.
Our client, Mr Patel, now an MBE, is enjoying his retirement with his family. He kindly wrote to us saying;
“Having been let down by my buyer almost at completion stage, I was recommended to contact Hutchings by a friend whose pharmacy you sold a few years ago. Along with your NPA recommendation and Anne’s reputation, I didn’t need much persuading.
“You dropped everything and came to see me straight away. You marketed my shop instantly and negotiated a very fair price for me. You kept me up to date throughout the whole process and solved problems as they arose. The service you supplied was perfect with no fault at all and I wouldn’t hesitate to recommend you at all to any of my friends or colleagues. In the past I have dealt with other agents and compared to them your service is exemplary”
Mr K Patel MBE, Jaywick Pharmacy, Essex
For Hutchings, this sale reinforces our belief that brokering a sale successfully is much more than a simple marketing exercise. It involves a commitment to customer service from the outset which is maintained right up to the point of completion.