MORECAMBE'S landmark Midland Hotel has finally been sold.

The hotel's administrators Sills and Betteridge have confirmed that a buyer has been found and has made an offer subject to contract.

Mr Guy Phillips from Sills and Betteridge said he was unwilling to name the new owner or disclose the final sale price but added: "The purchaser is well aware of the history of the hotel and is sympathetic to its distinctive character. The sale is still subject to contract but we hope to complete as soon as possible."

The original asking price had been £1.5 million but it is believed the final offer price is several hundred thousand pounds less than that.

Rumours abound about the identity of the purchaser but it is known that in the last few weeks architects from Manchester and London visited the Midland to investigate the potential of turning part of the hotel into luxury apartments.

The hotel has been up for sale since September last year when its colourful owner Les Whittingham died suddenly of a heart attack.

Police are still searching for clues to the whereabouts of the famous Eric Gill relief sculpture, estimated to be worth more than a million pounds, which went missing from the hotel shortly after Mr Whittingham's death.

News of the sale was greeted with delight by the council. Said Deputy Leader of the Independent group, Geoff Wilson: "If the sale goes through then it's a good day for Morecambe. It's a landmark building which has been in decline for some years and I hope the new buyers are able to restore it to its former glory."

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