A COASTAL property which was on the market for £1.49 million has sold for an undisclosed sum.

Hazelwood Court, near Grange, is set in around four acres of landscaped and wooded gardens, and offers panoramic views over the coast and countryside. It was bought by property owner and developer Peter Thompson.

Neil Thompson, associate director at Colliers International, provided advice to the vendors in the sale. He said the new owner intended to invest in the building with a view to offering high end self-catered accommodation for tourists.

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He added: “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.”

Hazelwood Court, which is currently split into nine apartments with an adjoining three-storey house, was once the location of the North Eastern Counties Friendly Societies Convalescent Home, where members could recover from illness or injury.

The property stood empty for around 20 years before being bought by the Stilling family in 1972, who ran a self-catering holiday business there before recently retiring.