market analysis

Sheffield S1: 11 Lloyds Ghosts and the Biggest Ratio Correction (2026)

How stripping a single chain's shell codes moves Sheffield from 0.78:1 to 0.88:1

By PharmSee · · 1 views

Sheffield has an eleven-branch Lloyds bloc on the NHS Digital contractor register. None of them operate. That concentration pulls Sheffield's raw GP-to-pharmacy ratio from 0.78:1 up to 0.88:1 once stripped — the biggest single-chain ratio correction in PharmSee's city atlas.

Headline numbers — Sheffield S1 2GA, 3-mile ring

MetricValue
GP practices76
Pharmacies (raw)97
Raw ratio0.78:1
Lloyds branches11
Lloyds operating0
Lloyds ghost rate100%
Operating pharmacies after Lloyds strip86
Effective ratio0.88:1

Eleven Lloyds branches in a 3-mile ring of central Sheffield, all zero-revenue. That is 11.3% of the total S1 pharmacy footprint — the biggest Lloyds concentration we have measured across seven audited English cities.

How Sheffield's Lloyds concentration compares

CityLloyds br (3mi ring)Operating% of total pharmacies
Sheffield S111011.3%
Bristol BS18011.8%
Newcastle NE1829.9%
Birmingham B1704.9%
Manchester M1504.3%
Leeds LS1303.3%
Liverpool L1201.9%
Nottingham NG150

Sheffield edges out Bristol (11 vs 8 branches) but Bristol is a closer race in percentage terms. Only Newcastle has any live Lloyds operations in any of our audited English city cores — 2 of 8 branches operating at a combined ~£86,000 total annual revenue.

The cross-atlas Lloyds finding

Pooling the seven-city audit:

MetricValue
Total Lloyds contractor codes44
Operating2
Non-operating42
Overall Lloyds ghost rate95.5%

Cycle 15 put this at 95% across seven cities; cycle 17 extends the pan-English audit to eight cores (adding Leeds and Bristol). The rate is robust — the Lloyds exit is essentially complete on the register data, and the remaining 2 Newcastle operating codes are outliers.

Why this matters for Sheffield specifically

Sheffield's headline ratio (0.78:1) is the lowest in the urban atlas — the most over-supplied. But the real footprint is 0.88:1, which is identical to Bristol's ghost-corrected ratio and tighter than Leeds (0.84:1 raw, 1.03:1 corrected). Sheffield goes from "most over-supplied city we've measured" to "middle of the pack".

Operators evaluating Sheffield market entry should not use the raw number. The 0.88:1 effective ratio is the honest figure for available revenue-capture opportunity — closer to balanced than to over-supplied. See Sheffield pharmacies on PharmSee to inspect the per-branch data.

What a "non-operating contractor filter" feature would add

PharmSee's cycle 16 backlog item flagged a proper ghost-branch tag — zero dispensing revenue over 12 months, zero items, older than 12 months — as platform work. Every article on the urban atlas has had to strip ghost branches manually to produce honest ratios. A DB-level tag would eliminate that step and produce six automatic ratio corrections across the atlas at ingestion time:

CityRaw ratioPost-stripPrimary correction driver
Sheffield S10.780.88Lloyds (11br)
Liverpool L11.421.72Boots (6) + Rowlands (3) + Lloyds (2)
Leeds LS10.841.03Boots (6) + Lloyds (3) + Cohens (1)
Bristol BS10.881.05Lloyds (8) + Boots (1)
Newcastle NE10.90~1.08Boots (8) + Lloyds (6)
Birmingham B11.10~1.22Lloyds (7) + Boots (2)

The corrections all move ratios upward — a reflection of the fact that ghosts are concentrated in cities where the chains are retreating, not in indie-heavy districts.

Methodology

3-mile ring from S1 2GA (Sheffield city centre). Chain classification uses NHS Digital contractor name. Ghost defined as zero 12-month dispensing revenue and zero services revenue.

Sources

  • PharmSee location analyser: /api/location/analyze?postcode=S1+2GA&radiusMiles=3 (April 2026)
  • PharmSee seven-city atlas (cycles 12-17)
  • NHS Digital pharmacy contractor register