First-time buyer snaps up Wishaw dental clinic in two-week deal
NewsPosted by: Dental Design 26th October 2023
Wishaw Dental Clinic is a two-surgery, mixed-income practice located in the North Lanarkshire town of Wishaw, approximately 15 miles from Glasgow and two miles from Motherwell.
In 2017, the practice was acquired by the outgoing Principals, Vipul Pawar and Shivani Singh, who promptly undertook a comprehensive refurbishment of the property. Since then, they have diligently worked to grow the business, successfully expanding its patient base to the current 2,800 patients that it serves today.
After five years of ownership, the Principals, who commuted from their home in West Lothian, made a strategic decision to sell the practice in order to reduce their commute and concentrate efforts on their other practices.
Following a sales process with Joel Mannix at Christie & Co, Wishaw Dental Clinic has been purchased by a first-time buyer.
Joel Mannix, Associate Director – Dental at Christie & Co, comments, “When Vipul and Shivani contacted us to handle the sale of the practice, we quickly identified that a whole-of-market approach would best serve their specific requirements and lead to the most favourable outcome. I was pleased to have found a suitable buyer within two weeks of launching to the market, with the deal completing four months later.
“At present, the Scottish market is witnessing significant engagement from first-time buyers and independent operators, who dominate the landscape, accounting for over 90 per cent of all transactions. Adopting a comprehensive whole-of-market approach becomes essential for achieving genuine market value, as opposed to making direct approaches to buyers who may also incur additional fees to agents. I extend my sincerest best wishes to Shivani and Vipul for all their future endeavours. Likewise, I wish the new owner every success as she takes the practice forward.”
Wishaw Dental Clinic was sold for an undisclosed price.
