Wolverhampton pharmacy put up for almost a million pounds is sold

A pharmacy in Wolverhampton has been sold having been put up for almost a million pounds.

Tettenhall Wood Pharmacy
Tettenhall Wood Pharmacy

The price paid for Tettenhall Wood Pharmacy in School Road has not been disclosed, but it was bought leasehold off an asking price of £925,000.

It was bought through specialist business property adviser Christie & Co and funding for the sale was sourced through commercial finance specialist, Christie Finance.

Tettenhall Wood Pharmacy dispenses in the region of 9,500 items per month and is in a mixed-use retail parade.

The business was previously owned by Andy Millard, who decided to sell to enjoy retirement and to play golf.

First-time buyer Vinayak Khanna said: “I am delighted to have finalised the purchase of Tettenhall Wood Pharmacy. As this is my first pharmacy this is an exciting new venture for me to be embarking upon. I have many plans to grow and expand an already successful business."

Carl Steer, director at Christie & Co, who handled the sale, said: “After his fair share of bad luck with two aborted private sales, Andy appointed Christie & Co to take the stress out of the next attempt. Although the road was not always smooth thanks to the pandemic, a sale was agreed and completed in less than six months.”

Gary Boyce, director at Christie Finance, who sourced funding for the buyer, added: “As an experienced pharmacist, Vinayak was determined to acquire his own pharmacy and we were able to assist him by securing the necessary funding to make his dreams become a reality. Tettenhall Wood Pharmacy presents a stable foundation for him to take forward and implement his growth plans. We wish him our very best and hope to be able to support him further in the future.

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