Gavin Maw Dental Practice in Tyne and Wear sold through Christie & Co
Specialist business property adviser, Christie & Co, is pleased to announce the sale of an NHS dental practice in Houghton-le-Spring, Tyne and Wear, to a local independent expanding operator.
The dental practice, previously owned by Dr Gavin Maw, is a highly profitable, fully equipped two surgery NHS practice located in the former mining town of Houghton-le-Spring, approximately six miles south west of Sunderland.
Dr Maw, who decided to sell the practice after over 20 years of ownership, comments, “I’m really pleased that I’ve sold the practice, after 20 years I wanted to reduce ownership responsibilities. Succession planning was high up on my priorities, too, as it was important for me to identify a buyer that would be able to successfully uphold the reputation and growth of the practice. The new buyer, Anita Kaila, is a perfect fit for the practice, and I wish her every success.
“I was aware of the activity and presence Christie & Co had in the dental market in the North East, so it was an easy decision appointing them to act on my behalf. The sale was going well at the turn of the year and then Covid-19 hit. I thought the deal would have either collapsed or been paused for a significant length of time. However, the service provided by Christie & Co was outstanding. Paul was always enthusiastic, positive, and communicated throughout, and pushed the intermediaries throughout the process in order to complete the sale successfully.”
The practice has been purchased by Dr Anita Kaila, an existing practice owner who acquired Church Street Dental through Christie & Co in 2015 - a neighbouring practice in the same street at Gavin Maw Dental. Dr Kalia comments, “Owning Church Street Dental has been very enjoyable, we have successfully grown the practice since taking over and when we heard Gavin’s practice was for sale it seemed natural and an obvious choice to purchase. The Covid-19 pandemic was an obvious concern mid-transaction, but I took the view that a good practice pre-Covid would remain a good practice post-Covid. A bit like with Church Street, we are recovering from the pandemic well and anticipating the return to normality soon.”
Paul Graham, Head of Dental at Christie & Co, who handled the sale, comments, “It was great to be involved with this sale. Gavin has been a great client and it’s rewarding to see a successful outcome for him. It was also a pleasure to be dealing with Anita as a buyer again following our dealings on Church Street, and this new acquisition will complement their current site perfectly.
“As trusted advisers in the dental market we are speaking to many practice owners and Associates who understandably feel completely overwhelmed as a result of the pandemic. However, it is important to tune out the noise and have confidence in how rewarding practice ownership actually is.
“The dental market in the North East has long been a hot spot for activity, with many buyers looking to acquire good quality practices. This won’t change and, as the landscape improves mid/post-Covid-19, we are seeing confidence return again - buyers remain active and practices will still attract significant premiums.”
Gavin Maw Dental Practice was sold at an undisclosed price.
For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Executive
P: 020 7448 8849 or E: phoebe.burrows@christie.com
Contact the agent:
Paul Graham, Head of Dental
P: 07739 876 621 or E: paul.graham@christie.com
