Woolacombe’s only pharmacy has a new owner
Barton Pharmacy in Woolacombe has been sold, specialist commercial property adviser Christie & Co has announced.
Barton Pharmacy is a community pharmacy that dispenses an average of 2,440 items per month. It lies completely unopposed in the coastal village of Woolacombe, an ever-popular holiday destination boasting ‘Beach of the Year 2021’ as voted by The Sunday Times.
The business has been owned by Mr Osman Hamid for the past seven years and has been put on the market to focus on his other business interests.
After a sales process with Christie & Co, it was purchased by local first buyer and former pharmacy employee Harminder Chaggar.
Osman Hamid, previous owner of Barton Pharmacy, said: “Owning this business for the past seven years has been a pleasant experience as we have had full support from the NHS as it has an LPS contract attached and receives a tremendously generous OTC income which is more than the average pharmacy. The business has huge potential to grow and diversify into further directions yet to be explored and it is great to know it has been handed over to a new owner, an operator who I believe will do well with the business going forward.”
Harminder Chaggar, the new owner of Barton Pharmacy, said: “I am absolutely thrilled to finally see my long held ambition come true and take ownership of Barton Pharmacy. I am excited to embark on this new adventure and introduce new, innovative services to meet the evolving needs of our local community. This purchase marks a significant milestone in my career and I look forward to building on the legacy my mentor has created over the years.”
Christie & Co’s Jonathan Board, who handled the sale, said: “The opportunity to live and work in one of the best locations in the South West doesn’t come around very often, so I was delighted to be able to offer this business for sale again. he sold it to Osman.
“Despite ongoing operational challenges, the market has shown remarkable resilience and there is still significant demand for established and well-located pharmacies such as this one. I am confident that Harminder will succeed in this venture and I wish him all the best for the future.”
Barton Pharmacy was sold for an undisclosed sum.