Partner Article

Newcastle’s Sanderson Weatherall renews partnership with UK’s largest independent pharmacy

A Newcastle-based team has renewed its relationship with a familiar client after Well, the UK’s largest independent pharmacy business, re-appointed leading chartered surveyor and property consultancy Sanderson Weatherall.

Well – formerly The Co-Operative Pharmacy – will now be advised on its 165 northern branches by lease consultancy experts at Sanderson Weatherall’s offices in Newcastle’s Grey Street, alongside their colleagues in Leeds and Manchester. Their service will cover matters such as renewals and rent reviews, plus the provision of ad-hoc advice.

The organisations’ partnership began six years ago but lapsed due to The Co-operative Pharmacy’s purchase in October last year for £620m by London-based multinational family-owned company Bestway Group. A six-month transition period followed the sale, during which the pharmacy organisation was advised by its vendor The Co-operative Group.

Meredith May, national property manager, Well, said: “We’re delighted to be working with Sanderson Weatherall again because we built up a good relationship and developed a very effective partnership with that organisation previously. In a nutshell, the firm has shown that it understands who we are and what we’re about.

“Our business is currently going through a period of rapid change - in addition to the transfer of ownership, we acquired Care4U, a pharmacy chain employing 70 staff at seven sites in Devon, during February, for example. It’s therefore all the more important for us to work with suppliers we know we can trust and Sanderson Weatherall certainly fits that bill.”

Well now has over 780 branches and more than 7,000 employees across the UK.

David Rastrick, head of Sanderson Weatherall’s lease consultancy team, said: “We’re very proud of our long-standing relationship with The Co-operative Pharmacy and are now looking forward to delivering a range of benefits to Well at this interesting and exciting time for the organisation, which operates in a highly competitive market.”

Sanderson Weatherall’s lease consultancy experts negotiate rent and lease terms for all forms of commercial property across the UK. With extensive market knowledge and significant experience of dealing with complex tenancy agreements, the team aims to ensure the best results for clients, without damaging their relationships with landlords or tenants.

Their expertise embraces lease audits, lease renewals and restructuring, rent reviews, dispute resolution and strategic property due diligence advice. The lease renewal and restructuring service can include strategic reviews and inspections of property portfolios, plus identifying opportunities to rationalise or restructure leases and reduce client costs by reviewing future lease events and potential liabilities.

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