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Lake District youth hostel sold for undisclosed fee
11:02am Tuesday 3rd December 2013 in News
A LAKE District youth hostel has been sold off to a private buyer for an undisclosed fee.
Elterwater Youth Hostel, which lies in the Great Langdale Valley, was put up for sale by the Youth Hostel Association.
It was originally acquired by the YHA in 1939 but they took the decision to use the money generated from the sale of the hostel to invest in other sites in the Lake District.
The property, which has been acquired by a private buyer, has 12 letting bedrooms, communal areas and kitchens and separate staff accommodation.
The buyers intend to run it as an independent hostel.
It had been offered for sale through Lakeland agent PFK Leisure and Commercial of Penrith by informal tender with a guide price of £590,000.
Head of Leisure and Commercial services at PFK, Duncan Young said: "The property attracted considerable interest from across the country which was perhaps not surprising given its magnificent location."
A YHA spokesman said: "YHA is pleased that the property will continue to welcome people to the Lake District and we wish the new owners every success."
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