Seacroft Pharmacy in Leeds has been sold.
Seacroft Pharmacy is a standard-hour community pharmacy that dispenses an average of 5,761 items per month. The pharmacy sits within a two-storey retail unit on a busy shopping parade, with a large medical practice just 100 yards away. It is located on the A64/York Road in Leeds, which is one of the main arterial routes that runs into Leeds city centre.
The pharmacy has been owned by Pharm-Assist (Healthcare) Limited since 2008 and was brought to market after a strategic review of its portfolio.
Following a confidential sales process with Tom Young and Jon Booth at Christie & Co, and with funding sourced through Alena Ray at Christie Finance, it has been purchased by Jeet Vadodaria, an expanding operator from West Yorkshire. This is his third pharmacy and is a joint venture with first-time buyer, Mohammad Khabib Ali.
Ashley Cohen, director at Pharm-Assist (Healthcare) Limited, said: “After having a strategic review of our group, we saw Seacroft as the right site to dispose of to allow us to focus our attention on other aspects of the business. Whilst there was plenty of interest in the site, it was pleasing to do the deal with Jeet, who is a local operator. We wish him all the very best with the business in the future.”
Jeet Vadodaria, new owner of Seacroft Pharmacy, said: “We were attracted to this pharmacy due to the strong reputation Ashley has built over a number of years, and felt it would be a great addition to our portfolio. We have just opened a new hub in West Yorkshire, and this pharmacy will make a great ‘spoke’. We plan to service some items via the hub to free up more time for our staff at Seacroft Pharmacy to engage with patients and improve the service offering.”
Tom Young, senior business agent – pharmacy at Christie & Co, said: “It was a pleasure to facilitate the sale of Seacroft Pharmacy on behalf of Ashley. We ran a competitive bidding process with five offers at or above the guide price, showcasing the demand for pharmacy opportunities in Yorkshire. I do not doubt that, under the new ownership of Jeet and Mohammad, the pharmacy will continue to thrive at the heart of the community.”
