Greggs fans have the chance to snap up their own branch for just £100,000 – but they make nearly £90,000 in just five years.
The shop – selling all the High Street chain’s favourites from sausage rolls to bean and cheese melts – is being sold at auction.
Greggs – which has over 2,000 bakeries nationwide – has five years left on its lease.
![Greggs in Gateshead, branch for just £100,000 is up for sale at an auction.](https://whatsthejam.com/wp-content/uploads/2023/12/Make-some-dough-Greggs-fans-can-snap-up-their-own-branch-for-just-100000-but-will-make-90000-in-five-years-3-1024x572.jpg)
So the lucky buyer will own their shop until at least 2028.
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The popular chain pays £1,472.50 rent per month to use the single-storey building.
It works out at £17,670 a year so the buyer will make back £88,350 within five years.
The downside is there are only 48 years left on the leasehold.
![Greggs in Gateshead, branch for just £100,000 is up for sale at an auction.](https://whatsthejam.com/wp-content/uploads/2023/12/Make-some-dough-Greggs-fans-can-snap-up-their-own-branch-for-just-100000-but-will-make-90000-in-five-years-2.jpg)
The 3,000 sq ft shop for sale in Gateshead, near Newcastle, Tyne and Wear.
It is being sold under the hammer by Auction House and advertised on Rightmove.
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The guide price is £100,000.
The listing reads: “The property comprises a single-storey ground floor retail unit.
“Leasehold, the property is held on a 99-year lease from 25 December 1972, thus approximately 48 years unexpired.
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“The property is situated on a mixed-use road close to local shops and amenities.
“The open spaces of Saltwell Park are within easy reach.
“Transport links are provided by Heworth rail station.
![Greggs in Gateshead, branch for just £100,000 is up for sale at an auction.](https://whatsthejam.com/wp-content/uploads/2023/12/Make-some-dough-Greggs-fans-can-snap-up-their-own-branch-for-just-100000-but-will-make-90000-in-five-years.jpg)
“The property is subject to a lease to Greggs for a term of five years commencing 2 June 2023 at a rent of £17,670 per annum.
“Approximately 3,000 sq ft.”
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.”
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