A LONG-established hotel has come onto the market in one of the Lake District's honeypot villages for £1.5 million.

With 13 en-suite letting bedrooms, the Oak Bank Hotel is located in Grasmere, on the banks of the River Rothay.

This detached, three-storey property on Broadgate features a reception lounge, lounge bar and The Dining Room, a 2 AA Rosette and Michelin Plate-awarded restaurant with conservatory, which can accommodate up to 30 covers.

Built in 1872, it became a hotel in 1920. The main building offers two en-suite bedrooms for staff, while a detached two-storey house behind the hotel features three-bedroom owners' accommodation.

Owners Glynis and Simon Wood are hoping to retire after 12 years of welcoming guests to the village, famous for its gingerbread and links with William Wordsworth.

Mr Wood said: “We’ve enjoyed our time at Oak Bank, taking it from a two-star hotel with no awards to a three silver-starred hotel with 2 AA Rosettes, a Michelin Plate and an entry in The Good Hotel Guide, with multiple improvements along the way.”

The sale is being handled by Alistair Greenhalgh, director at Christie & Co.

He said: "With a stunning detached house to the rear of the property that is ideal for a family, Oak Bank Hotel is perfectly suited for an owner operator to begin trading immediately."

Mr Greenhalgh said the Oak Bank had "an excellent reputation and high levels of repeat trade". He said there was also "significant potential" for a new owner to extend the trading period.

The asking price for the freehold is £1,500,000.