Ingrave Pharmacy in Essex sold to expanding London operator
Specialist business property adviser, Christie & Co, has announced the sale of Ingrave Pharmacy in Essex.
Ingrave Pharmacy is a standard hours community pharmacy which dispenses an average of 1,503 items per month and occupies the ground floor lock-up unit of a two-storey, terraced property. The business is positioned in a small parade of retail shops in a residential estate on the outskirts of Brentwood, Essex.
The business has been owned by Mrs Abimbola Faseun since 2003 and was recently brought to market to allow her to pursue a well-earned retirement. She comments, “After nearly 20 years I am delighted to be handing the business over to Chris. I think he will take it on to the next level and I’m pleased the pharmacy is in good hands.”
Ingrave Pharmacy has been purchased by Mr Christopher Okworu of Chrischem (UK) Ltd, an existing operator from Mile End, East London. This acquisition takes his portfolio to two pharmacies. He comments, “I plan to develop the services from this pharmacy so that the people of Brentwood have more choice for their primary care. This is a great opportunity for me, and I’m excited about the future potential here and look forward to spending time in the town.”
Mark Page, director at Christie & Co, who handled the sale, comments, “With the council lease already holding over, the sale took longer than usual to go through. I’m delighted to say that neither the buyer or seller ever lost confidence in the deal, and both are pleased with the outcome.”
Ingrave Pharmacy was sold off an asking price of £200,000.