New owner for Wolverhampton pharmacy
Tettenhall Wood Pharmacy in Wolverhampton is under new ownership.
The pharmacy is a standard hours community pharmacy which dispenses in the region of 9,500 items per month.
The business was previously owned by Andy Millard, who decided to sell to enjoy retirement.
Tettenhall Wood Pharmacy has been purchased by first-time buyer Vinayak Khanna, who said: “I am delighted to have finalised the purchase of Tettenhall Wood Pharmacy. As this is my first pharmacy this is an exciting new venture for me to be embarking upon. I have many plans to grow and expand an already successful business.”
Specialist business property adviser Christie & Co handled the sale.
Funding was sourced through commercial finance specialist Christie Finance.
Carl Steer, director at Christie & Co, who handled the sale, said: “After his fair share of bad luck with two aborted private sales, Andy appointed Christie & Co to take the stress out of the next attempt. Although the road was not always smooth thanks to the pandemic, a sale was agreed and completed in less than six months.”
Gary Boyce, director at Christie Finance, added “As an experienced pharmacist, Vinayak was determined to acquire his own pharmacy and we were able to assist him by securing the necessary funding to make his dreams become a reality. Tettenhall Wood Pharmacy presents a stable foundation for him to take forward and implement his growth plans. We wish him our very best and hope to be able to support him further in the future.”
Tetthenhall Wood Pharmacy was sold leasehold off an asking price of £925,000.