Community pharmacy sold as owners exit the sector

Outwoods Pharmacy, a community pharmacy in Loughborough, Leicestershire, has been sold to first-time buyer Karan Pankhania.

The husband-and-wife owners, Dipul and Darshini Modha, decided to bring the business to market after approximately 10 years of ownership, allowing them to exit the sector.

Located in a large residential area, the pharmacy dispenses an average of 6,564 items per month.

Carl Steer, director of pharmacy at Christie & Co managed the sale and said: “I have been meeting with the Modha family for a number of years to time the sale to suit their plans. Once instructed, we achieved multiple offers and a sale was agreed in just five weeks. Leicestershire has long been a hotbed of activity for pharmacy sales, illustrated by the speed of this sale, and the fact that we have another due to complete shortly, and three others in legal stages that will complete in the next few months.”

The sale price for Outwoods Pharmacy remains undisclosed.