The slowdown in corporate pharmacy sales this year has sparked greater interest in acquiring independent pharmacies, broker Christie & Co has said as it announced the sale of a 111-year-old pharmacy in North East London. 

Cavendish Pharmacy, a standard hours business dispensing 3,011 items per month on average, was sold for an undisclosed price to allow previous owner Samir Nejim of Teeba Health Services to retire. 

The pharmacy, which was established in 1913 and is situated on the edge of Walthamstow, was sold to a “small, expanding London-based group” in a confidential sales process, said Christie & Co. According to the Companies House website, as of April this year Teeba Health Services is run by Dr Zeinab Ahmad. 

Christie & Co’s Mark Page said: “This high street pharmacy in North East London attracted multiple bids, which further demonstrates that the demand for independent pharmacies remains strong. 

“There have been fewer corporate disposals so far in 2024, so buyers are increasingly looking towards the independent sector.”