A golden opportunity awaits a devoted Greggs enthusiast as a bakery branch in Gateshead, near Newcastle, is currently on sale for a mere £100,000.
The High Street favorite offers all the beloved Greggs treats, from sausage rolls to steak bakes and bean and cheese melts.
Marketed by Auction House and featured on Rightmove, this branch has a lease with Greggs for five more years, ensuring ownership until at least 2028.
The single-storey building, which accommodates the bakery, incurs a monthly rent of £1,472.50, totaling £17,670 annually.
Over a five-year period, the buyer stands to recoup £88,350, making it a potentially lucrative investment.
However, a caveat is the limited remaining leasehold duration, with approximately 48 years unexpired.
The property, described as a single-storey ground floor retail unit, is part of a mixed-use road near local amenities and Saltwell Park’s open spaces.
The listing emphasizes that Heworth rail station provides convenient transport links for the property.
The lease agreement with Greggs commenced on June 2, 2023, securing a steady income for the buyer.
The property spans approximately 3,000 sq ft, offering a substantial space for bakery operations.
While the opportunity is enticing, potential buyers are advised to consider the implications of a short lease.
Extending the lease beyond 90 years may necessitate an additional premium payment to the freeholder, adding a layer of consideration for prospective owners.
In conclusion, this Gateshead Greggs shop presents a unique chance for a passionate fan or aspiring entrepreneur to own a slice of the bakery chain’s legacy.
With a five-year lease in place and the allure of popular Greggs delicacies, this affordable investment could be a tempting prospect for those eager to dive into the world of baking business.
People