Lalys Pharmacy snaps up central Portsmouth location
Portsmouth’s City Pharmacy has been bought by regional operator Lalys, adding to its existing locations in Hampshire, Dorset, and Surrey.
The community pharmacy has been owned by Nyewood Healthcare for more than 25 years, dispensing around 6,900 items a month from a busy site in the North End area of the city.
Claire Johnson, superintendent pharmacist at Nyewood, said: “It took a while to decide to market one of our businesses, albeit confidentially, as we’ve owned them for many years.
“We were fortunate to receive good interest in the pharmacy from the early stages, and I’m delighted with how things went.
“I feel I had excellent guidance throughout the process and am very happy with the result.”
The sales process was managed by Jonathan Board, a director at Christie & Co.
He added: “This well-located community pharmacy appealed to a wide range of buyers and was typical of what is currently in demand – pharmacies with a healthy level of prescriptions, a good level of footfall, and space for the delivery of additional services.
“Despite ongoing operational challenges in the marketplace, it’s showing remarkable resilience and there remains significant demand for well-established, well-located pharmacies such as this one.”
Nyewood Healthcare was advised by PDT Solicitors, while Lalys Pharmacy was advised by Charles Russell Speechlys.