Our corporate team have acted for the seller of a popular West Yorkshire dental practice.
Wells Road Dental Surgery is a two-surgery mixed practice which occupies the first floor of a large end-terraced character property in Ilkley. It was founded more than 75 years ago.
The surgery’s previous owner, Dr Nick Dobson, acquired the practice more than 30 years ago after working as a locum in 1987. He later become an associate and took over as principle in 1989.
Wells Road Dental Surgery has been purchased by Jonathan Owen, who has worked for the business since January 2020. Owen previously worked for more than ten years in NHS practice, then six years in private practices in Horsforth and Burley-in-Wharfedale.
Property consultancy Christie & Co brokered the sale of the West Yorkshire dental practice.
David McEwan, our corporate lawyer who acted for Mr. Dobson on the deal, said: “It was a pleasure working with Nick on the sale of his practice which we managed to complete notwithstanding the COVID-19 pandemic. Dental practices have recovered extremely well since they re-opened for business again on 8 June 2020, and there is a very strong demand for dental practices from buyers, including first time buyers wanting to own their own practice.”
“The buoyant M&A market in this sector is supported by all the banks which have identified the dental sector as one where they still have a keen appetite to lend on terms which are competitive, and sometimes with bespoke products which take into account particular commercial terms which have been negotiated between buyers and sellers against the background of the COVID-19 pandemic.”
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