High dispensing pharmacy in county Durham sold to expanding local operator
Specialist business property adviser, Christie & Co, has announced the sale of Lumley Pharmacy in Great Lumley, County Durham.
Lumley Pharmacy is an impressive community pharmacy which dispenses an exceptional average of 15,550 items per month. The business also provides a range of services, including Pharmacy First, blood pressure monitoring, the New Medicine Service, emergency hormonal contraception, and drug misuse services. It operates a monitored dosage system service for approximately 220 patients and delivers prescriptions to around 30 patients each day.
The pharmacy occupies a single-storey, mid-terraced property on a popular shopping parade directly behind Great Lumley Surgery on Lombard Place, so benefits from a high volume of passing trade.
The business was brought to market by its former owner, Kim Gamble, who owns two pharmacies in County Durham. Having owned the pharmacy since June 2022, she decided to sell Lumley Pharmacy to focus on her other pharmacy business.
Following a sales process with Karl Clezy at Christie & Co, Lumley Pharmacy has been purchased by experienced group operator Sri Kanaparthy, who owns 10 other pharmacies across County Durham and Gateshead.
Kim Gamble, the former owner of Lumley Pharmacy, comments, “After many years of running busy community pharmacies, I felt the time was right to take a step back and have a little more balance in my life, while continuing to own and work within my other pharmacy.
“Selling a business that you have put so much into is never an easy decision, but I’m delighted that Lumley Pharmacy is passing into the hands of an experienced pharmacy operator. I wish Sri and the team every success for the future and hope the pharmacy continues to be an important part of the Great Lumley community for many years to come.”
Sri Kanaparthy, the new owner of Lumley Pharmacy, comments, “We are pleased to acquire Lumley Pharmacy, which is a great fit for our group. We look forward to transforming this pharmacy for what would be fit for the decades to come.”
Karl Clezy, director – pharmacy at Christie & Co, comments, “I was confident that Lumley Pharmacy would attract a lot of interest from buyers across the north of England due to its high dispensing numbers and its ideal location next to a busy GP surgery. Demand for northeast pharmacies remains high and deals are being agreed after less than a month on the market.”
Lumley Pharmacy was sold for an undisclosed price.