LIKE a great comedian, a successful property magnate needs perfect timing.
That explains the massive interest in the former Phoenix Software building on Tadcaster Road, York. It certainly conforms to the first three rules of a sound investment: location, location, location. The views over Knavesmire would make it a winner with buyers at any time.
But coming on to the market the year before York hosts Royal Ascot means it is hotly tipped to be a great accumulator. At £1 million the property does not come cheap. But the way prospective rents for next summer's meeting are going, the buyer might make that back in five royal days.
Updated: 10:11 Tuesday, March 16, 2004
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