The Melbourne bakery has launched their third outpost just a short stroll from their original hole-in-the-wall site on Bridge Road.

Following their stores in Camberwell and Moorabbin, the new location features a larger offering for both dine-in and takeaway.

The menu stars hot pies, salads, toasted sandwiches, sausage rolls and a range of freshly-baked croissants, cruffins and danishes.

“We are really excited about our new Richmond store, it’s like coming home,” says Penny for Pound co-founder Matilda Smith.

“Penny for Pound was born with the ethos of supplying people around Melbourne with the best tasting, freshest baked goods, and we are thrilled to be able to continue to do so.”

Penny for Pound started in 2016 as a wholesale bakery before opening three locations including a flagship store in Moorabbin.

Smith, a trained pastry chef and other Co-Owner and Restaurant Manager Ben Wilson also own gelato store Holla Gelato in Moorabbin, next door to the flagship location.

The duo focus on immersing customers in the baking process at Penny for Pound through viewing windows into the kitchen at their venues.

Penny for Pound supplies baked goods to venues like Axil Coffee Roasters, New Order, Maverick, Black Flat, Greta, Veneziano Coffee Roasters and more.

Penny for Pound Richmond is located at 418 Bridge Road.