Selling Your Pharmacy
Often overlooked when preparing your Pharmacy for sale is ensuring your retail shop lease is also sale ready.
Just as important as getting your books of account prepared, sharpening your roster and freshening up the look of your Pharmacy, your lease is fundamental to achieving the best sale price.
Renewing or extending your lease early to ensure you have sufficient security of tenure is critical to the future maintainable earnings you are promoting and also is vitally important for the purchaser to secure the finance to buy your Pharmacy.
[Important Tip: Your Landlord should be the LAST one to know you are selling your Pharmacy – Don’t let them get their greedy hands on your sale!]
When purchasers and financiers assess a Pharmacy for sale, they will be critical of the lease. Does it have enough terms/options to satisfy ROI and amortise capital? What securities are required? Does the occupancy cost ratio meet industry benchmarks? Are there any special conditions such as refurbishment?
Lease1 can provide advice and recommendations on your lease prior to listing with Pharmacy Solutions, no obligation and FREE of charge (Lease1 is a GoldCross endorsed service to the Members of the Pharmacy Guild so your confidentiality is assured).
To get you started, complete the MiLease Simulator to provide you a report highlighting your lease expiry and occupancy cost benchmarks. [www.lease1.com.au/milease-simulator/]
As a Client of Pharmacy Solutions when you are ready to enter into a contract, Peter and his Team will organise a copy of the Lease1’s Lease Assignment Kit (FREE) to assist in a smooth and timely settlement.
To understand more, you can book a FREE lease strategy session by going to our website [www.lease1.com.au] and clicking on ‘book a call’ at a time that suits you.
Phil Chapman
Lease1.com.au