The “popular” A F Browne Pharmacy in Sidcup was recently brought to market so that owner Ramesh Patel, who has owned the pharmacy for the past 20 years, could retire, the broker announced today (July 10).
Following a “confidential sales process” with Christie & Co, it was bought by “expanding local operator” Joseph Acheampong, who owns two other pharmacies located in Penge and Bournemouth.
Read more: Pair of pharmacies in Scottish tourist hotspots hit the market
Mr Acheampong said he was “delighted to add this established pharmacy to my portfolio” and hoped to “build on the good work already done by the sellers”.
He said there was “potential for more services” to be offered from the pharmacy, and was “looking at the opportunity” of adding another consultation room to the premises.
Director of medical at Christie & Co Mark Page said it was “a pleasure” to assist with the sale.
He said the sale highlighted the “continued demand” for “quality independent pharmacies”.
Read more: What do corporate disposals mean for the Scottish pharmacy market?
And he added that Christie & Co has sold “many” pharmacies over the past year that are situated within the M25, where he said “prices remain robust”.
Last month, a pair of pharmacies located in Scottish tourist hotspots came onto the market, with asking prices of £600,000 and £275,000 respectively.
And last week, Christie & Co’s director of healthcare and medical valuation Jamie Savage reflected that an “unprecedented” number of pharmacies had entered the market at the same time in Scotland, due to corporate disposals.
