A YORK period home owned by the city's "Railway King" is up for sale - but anyone looking to get their hands on a piece of local history could have to pay millions for it.

The listed building in Monkgate, one of York's biggest city centre blocks of property, was once the home of rail magnate George Hudson.

Now the Monkgate House office, which has been occupied by chartered accountancy firm Garbutt & Elliott since 1968, is to be sold by informal tender at a price expected to run into millions of pounds.

George Hudson lived at the property during the height of his powers. He is famous for investing in the Great North of England rail company allowing it to complete its line from York to Newcastle.

An active politician, he was the leader of the Conservative Party in York, and was elected as Conservative MP for Sunderland in 1845, serving the city until 1859.

He was, for a time, close friends with railway pioneer George Stephenson and the Duke of Wellington, but was ruined by financial scandal.

He admitted corruption, paying bribes and selling shares in rail companies at inflated prices. He did not pay the money he owed back to shareholders and was imprisoned for debt in York Castle in July 1865. Released a little over a year later, he died in December 1871.

His Monkgate home, located just outside the city walls, has an extensive frontage with a major site off Agar Street, which could attract new development.

The building could be converted back to residential use, but buyers would need to apply for planning permission. Garbutt & Elliot is to move in to new offices at Monks Cross Drive, Huntington, in July.

Andrew Hedley, of Blacks, is handling the tender sale of George Hudson's former home. He said that period houses of this type and location were among some of the most popular in the city.

Updated: 10:46 Thursday, June 03, 2004