Hazelwood Court in Grange over Sands in the Lake District has been sold to a private property developer for an undisclosed sum.
The property was marketed at an asking price of £1.49m for the freehold and has now been sold to property owner and developer Peter Thompson.
Set in around four acres of landscaped and wooded gardens, Hazelwood Court is currently split in to nine apartments with an adjoining three storey house and has been trading successfully as a self-catering holiday business for the past 38 years, owned by the Stilling family.
Neil Thompson from Colliers International, who advised the vendors in the sale, said new owner Thompson intends to invest and transform the building to offer high end self-catering accommodation for visitors.
He adds: “The sale of Hazelwood Court has continued to demonstrate the high demand for hotel and leisure businesses throughout Cumbria and the Lake District National Park, and follows on from the recent sales of The Hydro in Windermere, Castle Green Hotel in Kendal and The Rothay Garth Hotel in Ambleside, all of which our specialist hotels team has been involved in selling or acquiring on behalf of clients.”
Historically home to the North Eastern Counties Friendly Societies (NECFS) Convalescent Home, where members could “enjoy the health invigorating characteristics of Grange” whilst recovering from illness or injury, the property stood empty for some 20 years before being acquired by the Stilling family in 1972.