Health centre-based Medisure Pharmacy in Little London, Walsall, West Midlands, has been purchased by a first-time buyer for an undisclosed sum.

In a property deal facilitated by Christie & Co, Medisure Pharmacy, previously owned by MK Pharma Ltd, has been purchased by first-time buyer, Liam Gill.

The unit is a standard-hours health centre pharmacy that dispenses circa 8,000 items per month.

It is located adjacent to The Little London Surgery in Caldmore, a suburb close to Walsall.

Previously owned by MK Pharma Ltd, the pharmacy was brought to market to enable its owner to concentrate on other business interests.

Following a confidential sales process with Carl Steer at Christie & Co, and with funding sourced through David Ward at Christie Finance, it has been purchased by Gill.

Steer said: “This wasn’t a straightforward sale, but with a focused approach and great help from motivated sellers, buyers, agents, and brokers, we crossed the line with every party happy.

“This is yet another pharmacy sold to a first-time buyer – with this buyer segment contributing to circa 90% of our sales in the Midlands.

“As we see more independent pharmacies coming onto the market, which is something that we haven’t seen in a few years in the Midlands, appetite from independent buyers is likely to see an uptick.”

Ward adds: “Having funded this pharmacy originally for the seller, it was a pleasure to arrange the funding for Liam, who has some great ideas to provide even more services to the local community.

“Finance for first-time buyers is crucial in the pharmacy sector and lenders are being more selective as to which businesses they lend to – hence the need for anyone considering buying their first pharmacy to get good, specialist advice.”