Local pharmacy investment acquisition is just what the doctor ordered
March 09, 2023
A Northamptonshire shop let to a national pharmacy chain has exchanged hands in a deal brokered by Kirkby Diamond.
The freehold retail unit, in a prime town centre location at Watling Street, Towcester, has been acquired by a longstanding private investor client for an undisclosed sum. Lloyds Pharmacy occupies the 3,823 sq ft property on a six-year lease from December 2021.
Mark Hannam, partner and head of professional services at Kirkby Diamond, said: “We were instructed by a longstanding client, a private investor, to identify and acquire a prime town centre retail investment.
“We were very pleased to complete the deal on our client’s behalf, providing the full service from identifying suitable investments that fit the client’s criteria and securing the investment following a competitive bidding scenario.
“We are now undertaking the ongoing property management to ensure the asset value is maintained whilst looking at ways to add value.”
The property is a three-storey, mid terrace building. It has a ground floor retail unit with ancillary storage on the first and second floors.