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Lalys Pharmacy snaps up central Portsmouth location

6 February 2024
The Business Magazine article image for: 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.

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“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.

Read more - Biscoes acquires family-run law firm Hudson Solicitors

Born and raised in Berkshire, Dan fell into journalism after completing his bachelor’s degree in English at UCL.

Writing for The Business Magazine and local Biz News sites has given him the opportunity to chat with all manner of small business owners and share their success stories with a wider audience.

Outside of work, Dan enjoys live music, board games and quiz shows, and is making a slow but persistent effort to learn Spanish.

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