A “well-established” pharmacy in Lofthouse, Wakefield has been sold to a trio of business partner as the previous owner embarks on a staged retirement.

Carlton Lane Pharmacy, a standard hours business dispensing a monthly average of 9,778 items, lies in a village halfway between Wakefield and Leeds, said property broker Christie & Co.

The pharmacy was sold for an undisclosed price to Raif Pharma, a business first incorporated in June last year. A director of the company commented: “I am so pleased to have completed this acquisition. With us all having a medical background, it is exciting for us to move into the provision of pharmacy services, a challenge we are relishing but is made easier by inheriting such a well-run and long-established business.”

Susan Bargh, the pharmacy’s owner for the last 17 years, said: “Carlton Lane Pharmacy has been a pleasure to own over the years. Located in the village of Carlton near Wakefield, it had always been well placed to serve this semi-rural community and I am so pleased that the pharmacy has passed onto the directors of Raif Pharma who inherit an excellent business and team that for a great platform for the growth into services. I wish them all the very best.”

Christie & Co’s Jon Booth said: “When we launched this pharmacy to market in 2023, as expected, we had a lot of interest. Single sites of this quality and turnover where the current owner is looking to retire are very much the market ‘sweet spot’ even more so when you consider this lies almost equidistant between Leeds and Wakefield where there are plenty of buyers for pharmacy businesses. I am keen to see how this business develops under the new owners, and we wish them the greatest of success.”

Dave Ward, a senior director with Christie Finance, commented: “With the lending market being a little tougher at the moment due to higher interest rates and a reduction in appetite from some lenders, I am pleased to have worked with the clients to secure the right funding for this purchase. I am sure that they will make a great success of Carlton Lane Pharmacy.”