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.
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.
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.
“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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