Shropshire village pharmacy changes hands after being sold
A former corporate-owned community pharmacy in a Shropshire village has changed hands.
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Bicton Heath Pharmacy has been purchased by Ravi Nagra, who operates a dozen pharmacies across the West Midlands, for an undisclosed fee.
Specialist business property adviser Christie & Co has successfully brokered the sale of the pharmacy that is located in the village of Bicton Heath, just two-and-a-half miles from Shrewsbury.
The pharmacy dispenses an average of 6,600 items per month.
Formerly corporate-owned, Christie & Co said the pharmacy was "brought to market as part of a wider disposal project".
Director at Christie & Co, Carl Steer said that the acquisition may signal a resurgence of small to medium-sized group operators in the pharmacy sector.
He said: "The purchase of this pharmacy by Ravi represents perhaps the start of a return for small-medium size group operators to the buying landscape. Increasing numbers of group operators seem to be shaping up to return next year or have already secured deals to complete in quarter one and quarter two in 2025.
"The pharmacy landscape in an operational sense remains challenging, but Christie & Co is set to record a record year of activity in 2024.
"High levels of activity in the second half of 2024 will already ensure 2025 starts with a bang. Accurate pricing will continue to be key for all sellers but there is certainly a buoyant market across the Midlands, which I am sure is welcome news to would-be sellers."
