AN ELEGANT Georgian property with beautiful views of Morecambe Bay has come onto the market for £1.5 million.

Ashmeadow House, at The Promenade, is perhaps the best known property in the coastal village of Arnside.

Most recently it was home to luxury retirement apartments, but it was originally built back in 1818 for William Berry, a wealthy businessman who had shipping interests in the Kent Estuary.

Later it was bought by John Barnes and turned into a boarding school for boys.

When the school closed, Mr Barnes created a charitable trust, putting Ashmeadow and its grounds at the disposal of the trustees for the benefit of Arnside.

Crossfield Housing (Arnside) Society bought the Grade II-listed property in 2003, refurbishing the Georgian portion, adding a new wing and creating ten one-bedroom apartments plus warden’s accommodation and communal rooms.

The vendors have now decided to concentrate on providing retirement housing elsewhere in the village, and Ashmeadow House is up for sale with estate agents Davis & Bowring.

They say it has “incredible potential” for an investor or developer to reduce the number of apartments and make them larger, or for a different use altogether to be pursued, subject to planning consent.

The property has been well maintained and, although there may be layout changes to consider and fittings to upgrade, a complete refurbishment would not be needed, the agents add.

This lovely Georgian house is approached along a sweeping drive, where carefully tended gardens frame the property and extend to 2.45 acres.

Many period features have been preserved in the listed part, such as decorative plaster cornices, panelled door reveals, deep skirting boards, French windows out to the verandah and sash windows with working shutters.

The original and impressive staircase remains with oak handrail and ornate wrought-iron balustrade, and a splendid oval stained-glass lantern skylight.

Alongside the 10 individual flats, there is the warden’s apartment with separate access, a residents’ lounge and dining rooms, commercial kitchen, laundry room, lift, office, excellent cellar rooms and an attractive, largely glazed, light and airy entrance.

Ashmeadow House has mains electricity, gas, drainage and metered water; gas central heating, with individual combi boilers in all the apartments, and a separate boiler for communal areas; a phone entry system to each apartment; automatic lighting; an alarm and CCTV.

All carpets, curtains, blinds, curtain poles, light fittings, fitted furniture and white goods are included in the sale, and pieces of furniture are available by separate negotiation.

www.davis-bowring.co.uk; tel 015242-74445.