WILL this view of York Racecourse make a York office building one of the most sought-after properties in the city?

The buyers will certainly be in a prime position for meetings like Royal Ascot in 2005, but they can expect to dig deep for the privilege - for it comes with a £1 million price tag.

That's how much the former offices of Pheonix Software, in Tadcaster Road, could fetch when a sealed bidding process finishes at the end of this week.

The building, which was built in the early 1900s and has meeting rooms named after famous York races such as the Dante and Nunthorpe, is being sold by Blacks Property Consultants after the software firm moved to Pocklington.

It is one of the few office buildings in the centre of York to come on to the market in the last year, but it is the stunning view of York Racecourse which has got prospective buyers' hearts fluttering.

The new owners would have a virtually undisturbed view of the stands and some of the track during Royal Ascot in June 2005.

Andrew Hedley, chartered surveyor and partner at Blacks, said whoever bought the building could set up a business there, or even convert it into flats and houses.

"This couldn't have come at a better time, given the conversion possibilities and Royal Ascot in 2005. The new owner will probably open a window and watch it!" he said.

"While I have sold many properties in my 30 years in property marketing, I have to admit that I would have loved to work in this office. It will always be a favourite. The result of the marketing will be exciting for us all."

Meanwhile, the Tadcaster Road offices are not the only high-profile York building to be sold by tender by Blacks.

The company also wants bidders for the former Droopy&Browns shop in Stonegate. The Grade II listed building, which has 15th Century origins, is on the market until April 7.

Mr Hedley said the building was one of the oldest, and finest, in York city centre."There are now very few opportunities to actually buy a city centre retail property as most are held for long-term investment. This property at 21 Stonegate has attracted an exceptionally high level of interest."

Updated: 10:47 Tuesday, March 16, 2004