Rapid sale secured for community pharmacy
Pool Pharmacy in Pool-in-Wharfedale, West Yorkshire, has been sold to a first time buyer.
The deal, off an asking price of £225,000, was arranged by specialist business property adviser, Christie & Co.
The business, which dispenses an average of 2,640 items per month, has for the last 10 years been owned and run by Colin Eccles, who began working at the pharmacy almost 30 years ago.
He said he had decided to sell the business in order to retire.
He added: “The pharmacy was an Essential Small Pharmacy when I purchased it, then it had a LPS contract for five years before joining the Pharmaceutical List in April 2020. The business has grown considerably since then with prescription numbers more than doubling.
“I leave behind a pharmacy which is secure and profitable and which I feel is my legacy for the village.
“I would hope that the new owner will become part of village life and start to provide new services as time goes on.”
The business has been acquired by first-time buyer, Olamide Olakanmi, who is keen to add new services to the offering, such as flu vaccinations.
Jon Booth, associate director at Christie & Co, who handled the sale, comments, “We are very pleased to have assisted Colin in achieving his goal of a well-deserved retirement after almost 30 years of serving this small community on the outskirts of Otley.
“The opportunity was very well received when it hit the market and achieved an excess of 40 enquiries and a deal agreed on the business within four weeks.
“The new owners have exciting plans to refurbish the pharmacy and add additional services that will complement the solid business which Colin has built over many years. We wish them the greatest of success.”