Group of two successful South West London pharmacies sold to separate owners through Christie & Co
Specialist business property adviser, Christie & Co, has completed on the sale of two Dumlers Pharmacy branded pharmacies, one based in South West London and the other just outside in the suburb of East Sheen.
The first Dumlers Pharmacy is a high-street pharmacy located in a prime residential area in Wandsworth, London. The popular business, which dispenses an average of 8,792 items per month, sits alongside a multitude of other local businesses which contribute well to the pharmacy’s fantastic footfall figures.
The business has been purchased by Vijay and Mayank Patel of Pearl Chemist Limited, a London-based operator of 17 pharmacies in the South West of the city.
Mayank comments, “I’ve known of Jayesh and his pharmacies for a while so, when Christie & Co brought this opportunity to me, I was quick to act in order to secure the purchase. Operating 17 pharmacies in South West London, Dumlers Pharmacy is a great addition to our growing portfolio. Over the coming months, we plan to refurbish the property and grow the services offering at the pharmacy.”
The second of the two businesses is a community-pharmacy based in SW14, just outside of London, in the Surrey suburb of East Sheen. This standard-hour pharmacy dispenses an average of 2,576 items per month.
The business has been purchased by Mr Aditya Shah who comments, “As a first-time pharmacy buyer, I was pleased with the opportunity introduced to me by Christie & Co. On knowing more about Dumlers Pharmacy, I realised the potential it had for growth as an owner-operated pharmacy. Since I had all the relevant information from Christie & Co at the time of my first visit to the pharmacy, I was able to make a faster decision on going ahead with the purchase. I endeavour to grow the pharmacy’s business by adding more services and introducing new product lines to our shop floor in the coming months.”
The pharmacies were previously owned by Salasji Limited and were sold to allow the owners to pursue retirement. Speaking on behalf of the company, Jayesh comments, “Amita and I are delighted to have sold both our pharmacies and to secure new leases on both properties, enabling us to enjoy our future retirement.
“We appointed Jack at Christie & Co who, very early on, advised us that the pharmacies would have to be sold separately. In appointing him, Jack brokered acceptable deals on both within a couple of weeks. Jack was a delight to work with and was constantly on hand to answer any questions. We wouldn’t hesitate to recommend him to any of our friends in the pharmacy sector.”
Jack Chard, senior agent for medical at Christie & Co, who handled both sales, comments, “I’m pleased to have helped Jayesh and Amita with the sale of these two pharmacies so that they can now enjoy a very well-earned retirement. I met Jayesh back in December 2019 – it was a fortuitous meeting as I live very close to one of his pharmacies – and, very quickly, we began marketing the two Dumlers Pharmacies. It wasn’t long before deals on both pharmacies were agreed, and completions were finalised.
“Both pharmacies offer great opportunities for their prospective buyers. They’re both based in wealthy demographic areas which are, no doubt, great locations to increase their service offering in line with the general trajectory of the pharmacy sector. I have no doubt that Aditya, Vijay and Mayank will carry on the excellent service that these businesses have provided to their local communities over the years.
“The Dumlers pharmacies are classic examples of the top demand we have for pharmacies in West London, which stay on the market for minimum time as they’re quickly snapped up by enthusiastic buyers.”
The Dumlers pharmacies were sold at undisclosed prices.