Four North East dentists, including two in County Durham, have been bought for an undisclosed fee after the portfolio of the dental facilities was put up for sale earlier this year. 

Specialist business property adviser, Christie & Co, announced the sale of the dental practices in Jesmond, Bishop Auckland, Consett, and Stockton-on-Tees on Thursday (November 21).

According to Christie & Co, all four properties offer secure income on residual co-terminus leases, via the operational tenant and national dental group operator, PortmanDentex, which previously acquired the dental business Queensway Group in 2023.

The Bishop Auckland dentistThe Bishop Auckland dentist (Image: CHRISTIE & CO) Following a period of marketing through Steve Darbon at Christie & Co, which received interest from a wide pool of independent and commercial investors from across the UK and overseas, the portfolio has been successfully sold to a private investor represented by SIRE Capital Partners. 

Paul Averley and Guy Deeming, former property partners and co-owners of the portfolio, said: “When the Queensway Group decided to sell its property portfolio, we knew without hesitation that we wanted Christie & Co to bring that to market on our behalf, having done such a fantastic job for us in brokering the recent sale of our business - and they certainly lived up to our expectations. 

The dentist in ConsettThe dentist in Consett (Image: CHRISTIE & CO) "With the prospects for the sale of our property portfolio, and following the prior sale of the business, this placed us as an operational tenant too, and the team at Christie & Co found us the perfect match in the new owner for the property portfolio. We are delighted with the outcome.”

Steve Darbon, director of dental sales at Christie & Co, added: “We were delighted to have been re-engaged by our clients and to act for the property partners in the sale of these fantastic dental property investments.

"The breadth of market appetite received from an expansive pool of private and commercial investors was significant.

Recommended reading: 

Get more content including the stories that matter to your community from The Northern Echo.

"Appetite was fuelled not just by offering these with a tenant of considerable operational scale and covenant, but also by the proven and successful operational history, growth and track record, from its previous independent ownership.

"That culmination of tenant history and success, current stability, and the long-term operational future in a tenant delivering quality private and specialist NHS dental and orthodontic services, further enhanced the commercial appeal for this portfolio.

"We have seen a considerable surge in appetite for such investment opportunities of all sizes and scales across the UK, and this successful sale further demonstrates the ongoing market demand for healthcare and medical property investments.”