A VILLAGE pharmacy has a new owner.

Allendale Pharmacy has been sold for an undisclosed price to Reyhane Kiani, a first-time buyer from Newcastle.

The previous owner Rohit Nayyar decided to sell the pharmacy so he could concentrate on his other business in Northumberland.

Mrs Kiani said: "I am delighted to have acquired Allendale Pharmacy with an excellent local reputation.

"My future focus is very much on growth, and I believe we will develop a successful model alongside the clinical innovation and deliver better care for individuals."

The pharmacy, on Shield Street, dispenses around 4,750 items per month.

Karl Clezy, Director – Medical at Christie & Co who handled the sale, said: “This is the second time we have sold this pharmacy in four years, and we received a significant number of enquiries from both first-time buyers and independents alike. 

"The pharmacy plays an important role in this small community of just over 2,000 residents. 

"It has a good working relationship with the local health centre where the majority of prescriptions come from, and I am confident the new owner can further develop the business by offering more clinical services that will benefit the local community.”

Craig Dickson, director at Christie Finance who sourced funding for the buyer, said: “I was delighted to assist Reyhane in arranging the funding to purchase her first pharmacy - her enthusiasm and commitment to the sector will no doubt ensure that the business goes from strength to strength.

“Funding for first-time buyers is very much available in the sector, however putting together a comprehensive pack of information is absolutely the key to any funding application, therefore a bit of time and effort from borrowers at the outset pulling together all the supporting documents will certainly be beneficial and speed up the decision-making process.”