The origins of the city of York in the UK can be traced back almost 2,000 years. We see evidence of that from around AD 71 when the Romans in top colonial form conquered the Celtic tribes known as the Brigantes and founded Eboracum which, by the fourth century, was the capital of lower Britain.
The Middle Ages saw York develop into a kicking commercial centre and with the arrival of the railways, its industrial future was assured.
I have felt for some time now that York is a sparkling
location for property investment. Awash with visitors all year round, either in pursuit of its endless layers of history, education and business opportunities or feverishly putting their shirts on potential equine winners at its famous race tracks. The place is fairly galloping from strength to strength as a
commercial centre and is a great place to live as well.
Work on a dhs25.5 million office development will start this spring, marking a big vote of confidence in the future of this historical city. The two-storey, 14,500 sq ft development, dubbed The Edge, is being built by the York-based Shepherd Group. Another project, the York Science Park, at Heslington, adjacent to the University of York, just south-east of the city centre, has also attracted a lot of research and development, which can be a catalyst for technology transfer through direct business links. That makes for a booming local economy, I would say.
There are some attractive residential opportunities in the area fresh from the agents window. Bearing in mind the legions of history tourists and new executive blood en route, there is short and long term rental potential. For example, consider this offering: The Homestead is a spacious, period four-bedroom country house with outbuildings, stores and paddock. The property is situated in the
village of Huby with easy access to the market town of Easingwold and York. In need of cosmetic upgrade, planning permission granted to extend the structure to a spectacular five bedroom property. Price - dhs2.26 million.
Rose-tinted investor
spectacles anyone?
Andy McTiernan is editor-in-chief at Property World Middle East magazine.
Contact him at pworld@eim.ae
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