Shropshire pharmacy acquired by West Midlands pharmacy owner
Bicton Heath Pharmacy in Shropshire has been sold by property advisers Christie & Co for an undisclosed price.
After a confidential sales process led by Carl Steer at Christie & Co, the pharmacy has been acquired by Ravi Nagra, who owns a dozen pharmacies throughout the West Midlands.
Previously corporate-owned, the pharmacy was listed for sale as part of a broader disposal initiative.
The pharmacy dispenses approximately 6,600 items monthly and is located in the village of Bicton Heath, just 2.5 miles from Shrewsbury.
Carl Steer, director of pharmacy at Christie & Co, said: “The purchase of this pharmacy by Ravi represents perhaps the start of a return for small-medium size group operators to the buying landscape. Increasing numbers of group operators seem to be shaping up to return next year or have already secured deals to complete in Q1/Q2 2025.
“The pharmacy landscape in an operational sense remains challenging, but Christie & Co is set to record a record year of activity in 2024. High levels of activity in H2 2024 will already ensure 2025 starts with a bang. Accurate pricing will continue to be key for all sellers but there is certainly a buoyant market across the Midlands, which I am sure is welcome news to would-be sellers.”
