Specialist business property adviser, Christie & Co, has sold Carlton Lane Pharmacy in Lofthouse, Wakefield.
Carlton Lane Pharmacy is a well-established standard hours community pharmacy that dispenses an average of 9,778 items per month. It is located on Carlton Lane in the village of Lofthouse, between Wakefield to the south and Leeds to the north.
The pharmacy has been owned by Susan Bargh for the last 17 years and was brought to market as part of her staged retirement.
Following a confidential sales process with Jon Booth and Tom Young at Christie & Co, and with funding sourced through David Ward at Christie Finance, it has been purchased by Raif Pharma Ltd which plans to expand the pharmacy’s services offering.
Susan Bargh, the previous owner of Carlton Lane Pharmacy, said: “Carlton Lane Pharmacy has been a pleasure to own over the years. Located in the village of Carlton near Wakefield, it has always been well-placed to serve this semi-rural community and I am so pleased that the pharmacy has passed onto the Directors of Raif Pharma who inherit an excellent business and team that form a great platform for the growth into services. I wish them all the very best.”
One of the new Directors of Carlton Lane Pharmacy said: “I am so pleased to have completed this acquisition. With us all having a medical background, it is exciting for us to move into the provision of pharmacy services, a challenge we are relishing but is made much easier by inheriting such a well-run and long-established business from Sue.”
Jon Booth, Director – Pharmacy at Christie & Co, said: “When we launched this pharmacy to market in 2023, as expected, we had a lot of interest. Single sites of this quality and turnover where the current owner is looking to retire are very much the market ‘sweet spot’ even more so when you consider this lies almost equidistant between Leeds and Wakefield where there are plenty of buyers for pharmacy businesses. I am keen to see how this business develops under the new owners, and we wish them the greatest of success.”
David Ward, Senior Director at Christie Finance, said: “With the lending market being a little tougher at the moment due to higher interest rates and a reduction in appetite from some lenders, I am pleased to have worked with the clients to secure the right funding for this purchase. I am sure that they will make a great success of Carlton Lane Pharmacy.”
Carlton Lane Pharmacy was sold for an undisclosed price.
