Greggs Bakery, 15 Front Street, Hetton-le-hole, Houghton Le Spring

Property Details: • Type: Ask agent • Tenure: N/A • Floor Area: N/A

Key Features: • High Yielding Retail Investment • Let to Greggs Plc • 10 Year Lease Expired 10/04/2022 (Tenant Holding Over) • Asset Management Potential Via Renewal • Long Standing Occupier of 15+ Years • VAT-Free Investment • Investment Let at £11,250 p.a. (15% GIY on Guide Price)

Location: • Nearest Station: Seaham Station • Distance to Station: 4.6 miles

Agent Information: • Address: 33 Margaret Street, London, W1G 0JD

Full Description: 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.