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Independent pharmacy group Sykes Chemist is to sell five of its nine branches, property broker Christie & Co has said. 

Sykes is selling a group of four pharmacies in Bolton, with asking prices ranging from £525,000 to £700,00, as well as Fox & Medcalfe Pharmacy on King Street In Lancester, going for £700,000. The asking price for the five pharmacies combined is £3.2 million. 

All pharmacies are being sold on a freehold basis except for the GP surgery-integrated Pharmavon Chemist in Bolton, the leasehold of which is on sale for £650,000 with annual rent costing £20,800. 

Altogether the pharmacies dispense “circa 43,000 items per month,” said Christie & Co.

Tom Young, an agent at Christie & Co,said: “We are delighted to have been engaged again by the family of Sykes Chemist Group in this exciting disposal project of five north west pharmacies. 

“Greater Manchester and the surrounding areas are a hotbed of buyer activity, especially for first and second-time buyers, so we expect a strong response from the market on this instruction.”