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<\/p>\nOne lucky Greggs fan will soon be bringing in the dough, as a branch has emerged for sale for \u00a3100,000.<\/p>\n
The shop, located in\u00a0Gateshead, near Newcastle, is being sold under the hammer by Auction House and advertised on Rightmove.<\/p>\n
It sells all the High Street chain’s favourites, from sausage rolls, to steak beaks and bean and cheese melts.<\/p>\n
Greggs, which has over 2,000 bakeries nationwide, has five years left on its lease and so the buyer will own their shop until at least 2028.<\/p>\n
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Pictured: The front entrance to the Greggs store which is up at auction for \u00a3100,000<\/p>\n
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Pictured: The front entrance of the Greggs store based in Gateshead in Newcastle<\/p>\n
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Pictured: The garages next to the Greggs store where one lucky buyer could make back almost \u00a390,000 in a five-year period<\/p>\n
The bakery chain pays \u00a31,472.50 rent per month to use the single-storey building, which works out at \u00a317,670 a year.<\/p>\n
This means that in a five-year period, the buyer will make back \u00a388,350.<\/p>\n
However, the\u00a0downside is there are only 48 years left on the leasehold.<\/p>\n
The listing reads: ‘The property comprises a single-storey ground floor retail unit.<\/p>\n
‘Leasehold, the property is held on a 99-year lease from 25 December 1972, thus approximately 48 years unexpired.<\/p>\n
‘The property is situated on a mixed-use road close to local shops and amenities.<\/p>\n
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Pictured: The Greggs shop will go under the hammer at Auction House and is being advertised on Rightmove<\/p>\n
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Pictured: The Greggs store will be subject to a minimum lease of five years<\/p>\n
‘The open spaces of Saltwell Park are within easy reach.<\/p>\n
‘Transport links are provided by Heworth rail station.<\/p>\n
‘The property is subject to a lease to Greggs for a term of five years commencing 2 June 2023 at a rent of \u00a317,670 per annum.<\/p>\n
‘Approximately 3,000 sq ft.’<\/p>\n
It adds: ‘When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder.’<\/p>\n