A 21-YEAR-OLD student is set to cash in on Royal Ascot at York - after slapping an £18,500 price tag on his penthouse property.

The massive rent, which is almost as much as many York people earn in a year, will give those willing to pay the price a week-long stay in the luxury flat at the Emperor's Wharf building.

The property, which has three bedrooms, three bathrooms, large marble hall way and a pool room, is described on a website as York's premier penthouse apartment."

The student, who asked not to be named and whose parents bought the property, said he saw the rent as a chance to make some cash.

Describing the palatial property as a "show home", the student is one of more than dozen renters who have put huge prices on their homes in a bid to get rich from Ascot.

Lettings website Ascot-lets.com reveals a further ten prospective letters want £10,000 or more to allow high society to enjoy a few days in their houses.

One of the "top dollar" homes is the converted Old Black Bull public house at Thormanby, more than 20 miles away from the racecourse.

The student said: "I don't use the apartment that often. It is not my main house. It's a show home. I am looking for Ascot's cream of society and I thought that if I can get plenty for it, it's worth it."

£18,500 is enough to buy a top BMW motor car from a York showroom or put a 10 per cent deposit down on a £185,000 house.

A Countryside letting agency spokeswoman said the prices came from overwhelming demand from people seeking houses during Royal Ascot at York next year.

She said: "We advertised and were contacted by more than 150 people. It's not just about homes either. One person offered to chauffeur people around in his car as well as loan them his

property".

Updated: 10:11 Friday, April 09, 2004