Pharmacy group sells branch in Essex to first-time buyer

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Pharmacy group sells branch in Essex to first-time buyer

A local pharmacy group has sold one of its branches in Essex for an undisclosed fee.

Allcures plc, which has branches in Essex, London and online, sold Southchurch Pharmacy to Rakesh Sareen, a first-time buyer from South East London, as part of a corporate divestment according to Christie & Co who brokered the sale.

The pharmacy is situated on the main road in Southend-On-Sea and dispenses an average 4,600 items each month.

“The trend of lower-volume pharmacies moving back into independent ownership such as this is being witnessed more often in the market. Rakesh is experienced, motivated and excited about driving this pharmacy forwards and offering a wider range of services to the people of Southend,” said Mark Page, director, medical at Christie & Co.

“We wish him all the very best with this, his first venture into pharmacy ownership.” 

Pictured: Rakesh Sareen (left) and Kirandeep Cheema of Allcures plc.

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