Selling a pharmacy

Team of solicitors with pharmacy experience

Strong connections with other professionals in the sector

Clear understanding of the complexities of the pharmacy sector

Experienced in buying and selling pharmacies

Selling a pharmacy

  • Preparation
    Being well-prepared for the sale will help the process run quickly and smoothly. It is important to provide the buyer with a full and complete set of the documentation they ask for and deal with any issues at the outset. This will avoid giving your buyer an opportunity to re-negotiate the price. Ahead of the process, we can provide you with a list of the documents your buyer is likely to ask for and give your pharmacy a legal health-check.
  • Protection
    A buyer will want the seller to enter into warranties; contractually binding statements about the business and its affairs. An important part of our job will be to minimise your exposure; by ensuring a full disclosure process is completed and negotiating limitations into the contract in respect of your liability.
  • Negotiating Lease Terms
    You may own the freehold of the pharmacy and wish to enter into a lease with your buyer. We will take your instructions, provide advice on appropriate terms and negotiate the lease on your behalf.

Case Studies

  • Share sale of a pharmacy in Devon for c.£1.5m to new entrant including negotiation of new lease to the buyer.
  • Share sale of a pharmacy in Essex for £2m including sale of freehold by shareholders to buyer.
  • Asset sale of Wiltshire-based pharmacy to national chain for £800,000.

FAQs

Whether you choose to sell your pharmacy by way of asset or share sale will depend on a number of factors including your tax position and the existing structure of your business. We can work alongside your tax advisors at an early stage to help you understand the pros and cons of each route.

It is helpful to collate your professional advisors at an early stage so that they can provide advice from the start. If you want to minimise your costs, you can ask your solicitors not to start any work on the sale until the buyer has a confirmed offer of finance and is ready and able to proceed.

It is possible to enter into Heads of Terms which require a buyer to pay a deposit ahead of the sale. In certain circumstances this can be retained by the seller.


Contact us to find out how our expert team can help.