AN investment opportunity at Carlisle's St Nicholas Gate has come on the market. 

Comprising part of the retail park, the property is currently being fully let to Asda until May 9, 2038.

Park Place Retail, which is handling the site's sale, is seeking offers in the region of £7 million. 

The ASDA itself extends to 34,750 sq ft. 

As per the agents, at present, the rent for the property is £771,722 per annum or £22.21 per sq ft. 

This is expected to rise to £894,657 per annum by May 2028 and just over £1m by May 2033. 

According to the listing, expected change within the retail park is also on the cards, as indications suggest that Poundland is about to move into the larger unit currently occupied by Oak Furnitureland, while pet store Jollyes is expected to replace Poundland's existing unit.

Other occupiers of the park include B&M, Poundland, Iceland, Halfords, and The Gym Group.

Besides this, the unit, with a provision for 434 car parking spaces, was also designed in a way that facilitates subdivision, in case such a requirement arises in the future.

The estate agents suggest that the standout aspect of the listing is the unit's planning consent for use as a foodstore, and its position within one of the city's major retail spaces.

For more information, you can visit Park Place Retail.