Recent Transactions

PHARMACY IN ESSEX

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Modiplus is pleased to announce a successful sale of pharmacy in Essex located next door to a GP surgery. The pharmacy has been under the same ownership for 40 years. A new owner is a first time buyer who is settling well. Modiplus is pleased to successfully secure the sale on this pharmacy.

“awaiting testimonial”

SVR CHEMIST, EAST BARNET, HERTFORDSHIRE

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SVR Chemist has been owned by our client for the last 25 years, since which time they have steadily developed services, generating dispensing activity and significantly increased the turnover particularly within the NHS sales. The pharmacy is perfectly located next to East Barnet Health Centre. We were delighted when our client approached us to sell their pharmacy. Following our successful marketing campaign, the pharmacy received a number of offers, achieving 27% over the guide price.

“I would like to thank Umesh and the team for their guidance and invaluable support in the sale of our pharmacy. Modiplus has looked after our accounting and tax needs for a number of years, so it was natural for us to trust them to handle the sale of our business. They provided us with valuable insight and advice throughout the process, particularly in dealing with a mountainous due diligence process. Share sales can be complicated at the best of times and utterly impossible at others, so their specialist industry knowledge proved vital, particularly in securing a fair price for our business. I unreservedly recommend Modiplus for their professionalism, transparency and unrelenting dedication to their clients.”
Mr and Mrs Raval, SVR Chemist

KALMAK CHEMISTS, SOUTH BANK, LONDON

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Another successful sale by Modiplus team. Kalmak Chemists is a modern and leading pharmacy in Southwark and South East London. This high spec pharmacy benefits from having a wheelchair lift entrance, two modern consultation rooms (one used by GP doctor to examine patients through an app – online doctor) , open plan dispensary, large shop floor area offering an excellent selection of OTC products including perfumes and make up. We are pleased for the new owner to acquire this well-established pharmacy business with huge development potential in the area which is fast growing and is a home to London Bridge station, the Shard, Tate Modern, Shakespeare’s Globe Theatre, Borough Market and many more.

“When I decided to sell my pharmacy there was choice of a few companies. One or two were not interested but Modiplus were enthusiastic and professional. Within a few days of Modiplus coming to the pharmacy and discussing the best way forward buyers were looking at the pharmacy after work and making offers. Having accepted an offer, they liaised with the buyer, ourselves and the solicitors. They were always there if anything needed explaining right up to exchange. I can definitely state that they were an integral part of the whole process and I cannot recommend them more highly for the professional way the sale was conducted.”

Mr Meir Kattan, Former director, Kalmak (Chemists) Ltd

WOODS CHEMIST, ESSEX

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Modiplus is pleased to announce a successful sale of Woods Chemist in Essex which has been under the same ownership for 34 years. The pharmacy is very modern, spacious and benefits from a large open plan dispensary area overlooking the shop floor as well as a flat upstairs which offers a great potential to the new owner. We marketed the pharmacy and very quickly received offers well above the asking price. Modiplus is pleased to have found a right buyer for this pharmacy and the sale completed in August 2018.

“I would like to thank Modiplus for their support and guidance during recent sale of our pharmacy. Following our meeting with Modiplus, we were impressed with their extensive marketing which very quickly resulted in 7 offers and one of the offers was 11% above the asking price. This has been a difficult transaction and the whole selling process is stressful, however with the help of Umesh in the end it was all sorted. We found Umesh and the team very amicable and helpful. We would happily recommend Modiplus to anyone who is looking to sell their pharmacy.”

Mr D & Mrs K Amlani, Woods Chemist

ATKINS PHARMACY, NORTH LONDON

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Modiplus is pleased to announce a successful sale of Atkins Pharmacy in North London. Atkins Pharmacy is located within a parade of shops on a busy high road. Located 3 minutes’ walk from the Holloway Road underground station and a short distance from the London Metropolitan University populated with students. The shop comprises of retail area and dispensary. The pharmacy has been run by a locum for 9 years and offers huge potential for the new owner.

“I appointed Modiplus to help sell one of my branches in North London. They guided me through the process so well, were very transparent and highly professional. I had a number of viewings and got an excellent price. They kept me in the loop, chased the buyer, both sets and solicitors and kept the sale on track. It is a stressful process but with a good team of people to support you, it becomes easier. We recently completed the sale and really want to thank the Modiplus team. I highly recommend them.”

Mr V Mistry, Atkins Pharmacy

PATERSON HEATH PHARMACY, SOUTH EAST LONDON

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Modiplus is pleased to announce a successful sale of Paterson Heath Pharmacy in South East London. This pharmacy has been under the same ownership for 38 years and is very popular within local community. Located very close to River Thames and benefits from new major developments in the area. We are very happy to sell this pharmacy in a famous London location, very close to London’s tourist attraction and landmarks. We wish the new owner every success!

“Modiplus took the strains of selling my pharmacy when the first interested party ready to put a deposit, withdrew. They came up with three buyers the very next day and we had a buyer in less than 24 hours. The team at Modiplus were always in contact to ensure progress was being monitored and intervening to speed it up if necessary. Selling a pharmacy is stressful but Modiplus helps to go through the process.”

Mr Patel, Paterson Heath Pharmacy

WEST LONDON PHARMACY, CHISWICK, LONDON

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Successful completion on the sale of West London Pharmacy to a first-time buyer in March 2018. The buyer is settling well under vendor’s guidance. Modiplus is pleased to sell this modern pharmacy which attracted a number of offers.

“I would like to say thank you to Modiplus team for their hard work in helping me buy my first pharmacy. I have dealt with many pharmacy sales agents and I can surely say, that none other come close to how excellent their service is. My huge thank you goes to Sadhna, who was always available to talk and kept me well informed. Their knowledge and experience in this area is second to none. The whole buying process is very stressful, however, with the help and guidance from Modiplus team, it was all sorted smoothly. I highly recommend Modiplus and look forward to working with them again in my future transactions.”
Mr Abbas Ali, New Owner of West London Pharmacy

KALPESH PHARMACY IN EAST LONDON

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We are pleased to announce a successful sale of Kalpesh Pharmacy in East London. The vendor decided to sell the pharmacy as he wanted to retire after 35 years. We secured a sale and got 25% above the asking price. The pharmacy attracted number of offers and was sold to a locally based group. As we were acting as his accountant, and had full knowledge of his tax position, he instructed us to sell his pharmacy.

“I would like to thank Modiplus for their excellent service in selling my pharmacy. Modiplus team are professional and very helpful, any issues we faced was dealt efficiently, and I was informed of the progress through out. Not only did they help me to sell my pharmacy, but they were also my accountants for many years, so they knew my business inside out which helped with the smooth due diligence and completion. I would highly recommend Umesh and his team to anyone who is looking to sell their pharmacy.”
Mr Kalpesh Patel,
Director of Kalpesh Ltd until January 2018

CAVENDISH PLACE PHARMACY IN EASTBOURNE, EAST SUSSEX

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This pharmacy had been under the same ownership for over 30 years. Located a short walk from the sea front and town centre which attracts tourist trade. The vendor approached us to sell the pharmacy and we were very pleased to achieve a price which was well above the asking price. Following our successful quiet marketing, we found a right buyer for this pharmacy and the sale completed in June 2017. We wish the new owner every success!

“I am glad I approached Umesh Modi at Modiplus and his team to sell my pharmacy. I had a big modern double fronted pharmacy, having tried to sell it through various well known agents even before the cuts but I had no joy just wasted time. I contacted Umesh Modi rather cautiously in view of my previous experience. I know I made the right decision, I felt I was understood and my instructions were followed through. Modiplus team maintained discretion of the sale and their selective advertising managed to sell the pharmacy to the right person at the right price. Thank you to Mr Umesh Modi and his team. I highly recommend Modiplus team to all my professional colleagues and friends, and you were good at keeping all sides happy.”

Ms Thakrar, Sussex.

DEXAPHARM T/A LONGFIELD PHARMACY IN ESSEX (SURGERY PHARMACY)

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Longfield Pharmacy is an independent pharmacy located in Maldon, Essex established since 2002. The pharmacy is located within a Longfield Medical Centre (LMC) that has 9 doctors. The pharmacy has a separate and secure entrance within the main building to accommodate for flexible opening hours for either business. Modiplus secured the sale on this pharmacy despite the various complications which could have jeopardised the sale.

“We are a 9-doctor surgery with a dispensing contract. We also owned a retail pharmacy which operated from within the surgery premises. As we discovered, this unusual arrangement required the considerable expertise of our accountant Silver Levene, not only with preparing accounts but providing valuable advice on how best to manage dispensing successfully. One of the directors in our retail business a practicing pharmacist, put us in touch with Umesh Modi, at Silver Levene, some 4 years ago to take over our accounting affairs. We were very pleased with the services provided. Their knowledge of the pharmacy business proved valuable in guiding us through some difficult times in the last few years. Once we decided to sell the pharmacy, the obvious choice was to appoint Umesh Modi and his team at Modiplus. They marketed the pharmacy extensively with a view to getting the best price possible. As this was a large business they knew who to approach and who to target as potential buyers of the business. Despite the funding cuts and uncertainty in the market place, we received an excellent offer and sold the pharmacy at the end of August 2017. Umesh and his team kept everyone well informed during the transaction and did everything possible to keep the sale on track. There were numerous complications that could have jeopardised the sale, but timely input from Umesh and his team helped negotiate a satisfactory outcome. I would happily give my recommendation to Umesh and his team at Modiplus”

Dr Vijay Patel, Former director, Dexapharm Ltd.

UNITED PHARMACY IN CANTERBURY, KENT

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United Pharmacy is located on a high street in a historic town of Canterbury in Kent. The pharmacy dispenses 5,000 items per month and the NHS sales are high at 90%. The pharmacy is close to Woman’s clinic and Dental surgery. Modiplus was delighted to market this pharmacy which generated high interest and achieved 23% above the asking price. The vendor was very happy with the sale. The vendor kept the wholesale and internet business and trades from premises 15 miles from the United Pharmacy.

“The service provided was bespoke and very professional. The team helped to maximize sale on assets and provided sound advise throughout the transaction. I would recommend them anytime.”

F. Idowu, United Pharmacy, Kent

MONA PHARMACY IN LONDON

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Mona Pharmacy has been under the same ownership for 25 years. A retirement sale. New lease is in place for 15 years with 5 years rent reviews. Location of a pharmacy was very attractive for the new buyer as it is in a busy residential area near two surgeries. The vendor developed a good relationship with both surgeries. We were approached to sell the pharmacy, we achieved above the asking price and the vendor was very happy.

PHARMACY & POST OFFICE IN ESSEX

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This is an independent pharmacy located within a small parade of shops. The pharmacy has a consultation room with adequate space for private consulting. There is a staff room, kitchen and cellar area with ample storage if required. There is a new lease in place for 10 years with rent review every 5 years. The pharmacy dispenses approx. 4,740 items per month (NHS 74% / Counter 26%). Few counter staff spend 1-2 day each day in the Post Office as and when required.
The pharmacy attracted number of offers and was sold significantly above the asking price. We wish the new owners good luck in their new venture!