Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding retail investment let to the undoubted covenant of Greggs and with evident asset management potential.
Arranged as a ground floor retail unit, the property is let to Greggs Plc on a 10 year lease which expired 10/04/2022 and paying a rent of £11,250 per annum. The tenant is continuing to pay rent and is therefore holding over.
We consider the property offers evident asset management potential via the renewal of the existing lease.
The property occupies a prominent pitch on Front Street, the principal retail amenity for the area. The street is characterised by a mix of local and national tenants with the principal grocery/supermarket amenity being directly opposite with Heron Foods and Tesco.
Tenure
Leasehold - 999 Year Lease - Peppercorn Rent
Tenancy
Greggs Plc
Greggs is one of the UKs best known retailers/bakeries. Originally founded nearby in Newcastle there are now over 2,500 branches nationwide.
Rent