Community pharmacy sold as new buyer considers expansion plans | Northwest Business News
A well-established community pharmacy in Liverpool has been sold to a first buyer who plans to expand its services.
The Hightown Pharmacy, in the heart of the village of Hightown, was purchased by Daniel Higham.
The business, which benefits from a GP practice less than 500 meters away, has been owned by Ellis and Fleur Hall-Lyon for over 15 years.
It was sold to allow Ellis to pursue property development interests, including establishing a cafe next to the pharmacy. Fleur will continue her work as a pharmacy substitute.
Commercial real estate adviser, Christie & Co, revealed the sale. Financing for the buyer came from Christie Finance.
Ellis and Fleur Hall-Lyon said, “We are delighted that the transaction went smoothly and we are extremely pleased that the ideal buyer has been found for our business.”
Higham added, “Taking ownership of Hightown Pharmacy is a fantastic opportunity. I look forward to serving the community and continuing the great work of the previous owners.
Jon Booth, associate director – pharmacy at Christie & Co, who handled the sale, said: “When the business came to market there was a good level of interest, as is often The case in this sector of the market which is very important. The company is certainly in good hands, Daniel Higham, who has been looking to acquire his first company in several years, and we wish him all the best.
“Having sold over £20m worth of pharmaceutical businesses in the North of England in 2021, the completion of Hightown Pharmacy in early January 2022 is a great way to start what we hope will be another very Supply from good quality pharma companies across the UK still remains very limited as buyer appetite continues to improve.”
Gary Boyce, director of Christie Finance, which financed the sale, added: “It was a pleasure to help Daniel Higham secure very competitive financing, enabling him to become the new owner of Hightown Pharmacy.
“With Daniel’s track record of growing prescription items and his abilities to promote a range of additional pharmaceutical services from his roles to date, his application for funding has been well received by a number of lenders and we have been able to present a wide selection of loan options to meet their needs.
“We wish Daniel the best in managing his new business and look forward to seeing it prosper.”
Hightown Pharmacy was sold for an asking price of £500,000.