Successful acquisition of new pharmacy at Heyford Park

We advised the client on the heads of terms being negotiated between the parties,  then terms in relation to property due diligence. In addition to this, we assisted with  negotiating the conditional agreement for lease, lease and a licence to alter. We also acted for the funder in connection with its security requirements relating to a loan provided to the GP practice to help fund the fit out costs.

The client is a medical practice In Oxfordshire. The GPs proposed to open up in a new unit in a the Station House on Camp Road, right at the heart of a major new development that will eventually have 7,000 residents. Residents will be able to pick up their prescriptions closer to home and book a GP consultation there – removing a need to travel to Bicester or Deddington. The pharmacy will have a small number of adjoining consultation rooms to allow part time primary care cover from both doctors and nursing staff.

Taking a lease within a retail and residential scheme is not without its challenges. The client was looking for a firm which could combine healthcare knowledge with pharmacy sector expertise, also to negotiate and deal with a lease within a retail development. The interaction between the pharmacy and the rest of the scheme was a point of particular focus in particular the need to accommodate deliveries and to ensure patients had somewhere to park.

This was a fairly unique situation of advising GPs in relation to a pharmacy as normally the two groups of clients are distinct. Here we used our expertise of acting for GPs and pharmacies in relation to property matters to ensure the best and comprehensive advice was given in relation to this project. We carried out a site visit early on to understand the GPs requirements and to grasp any challenges the site presented to the operation of a pharmacy business. This location saw the installation of a ‘pharmabox’ – an automated medicine collection point available 24/7 in the front of the property. This has enabled customers to pick up their prescription items at their convenience. This installation reflects a move towards pharmacy automation. GPs need to focus on providing care to their patient – so we were trusted to drive the transaction forwards and cover off all of the necessary points, to ensure the project was delivered on time.

This transaction demonstrates the innovative approach some GPs are taking, to bring new and more local healthcare services into residential areas. Registered patients will be able to book appointments and conveniently pick up their prescriptions at the same place. This will provide a sustainable service of primary healthcare that’s specially tailored for both the present and growing needs of Heyford Park.

For more information, please contact our real estate team.