Oxford pharmacy in administration – £1.2m sale delayed

A new report filed by the administrators for Ahmeys has said only an exchanged contract with deposits held has been conducted with an agreed extension in place.

Contracts for the Oxford Road, Cowley-based company’s property sale were exchanged in July 2025, with a total deposit of £122,500 held by January 2026 against a £1.225m sale price.

A pharmacy sign on a shop. (Image: James Manning / PA)

Completion has been repeatedly delayed as the buyer, PharmaLearn, struggled to secure funding due to lower lender valuations and a weak property market, the report suggests.

Rather than terminate the deal which would risk higher costs, delays and a lower sale value (potentially around £900,000), administrators, in consultation with NatWest, agreed to a further six-month extension.

This was conditional on a £100,000 non-refundable deposit, which has since been received.

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Paul Appleton, joint administrator at Begbies Traynor, said: “A further extension to the date for completion was agreed, providing PharmaLearn with time to complete the transaction by June 2026 albeit we hope that the transaction will be completed well before then.

“Whilst this extension has required additional time and legal input, we remain of the view that, when compared with the available alternatives, continuing with the existing sale process is most likely to maximise the realisation for the benefit of the administration estate.

“Further work was undertaken to address the continued occupation of the property, including negotiations with Medlearn around an appropriate licence fee, as well as preparatory steps for issuing a potential notice to complete due to delays in progressing the execution process.

“Work will continue during the next reporting period to ensure all remaining matters are resolved and to bring the transaction to completion as promptly as possible.”

A pharmacist stocking shelves at a chemist (Image: PA)

Shortly after being taken over by the administrators, MedLearn Limited and Pharmalearn Limited vowed to buy the pharmacy.

Faiza Saleem is a director of both purchaser companies and is also connected to Nisar Ahmad, the sole director of Ahmeys, the administrators said.

Mrs Saleem is the wife of Faheem Ahmad, who resigned from Ahmeys in January 2025 as a director and from Medlearn in January 2024.

She is also the daughter in law of Nisar Ahmad, 69, the remaining director of Ahmeys.

The 22 staff who worked at Ahmeys were transferred to the new buyer via TUPE, transfer of undertakings (protection of employment), which eliminated the need for redundancies and wage arrears.

Ahmeys started to suffer financial difficulties due to working capital pressures and a slowdown in revenue, the administrators said in a previous report.