Last updated 19:40, Thursday, 15 May 2008

MARYPORT newsagent Philip Cueto has bought the town’s Golden Lion and is planning a £1.2 million restoration.

The historic building, regarded as the town’s biggest eyesore, will be renovated as a hotel offering 15 bedrooms, a restaurant bar, outside terrace area with Solway views and a function room for up to 200 people.

Mr Cueto, of Cueto’s Newsagents, confirmed that he and his wife Janice had bought the property after more than 12 months of talks.

“The previous owners live in Gibraltar which made it more difficult,” he said.

Mr Cueto said there was a huge amount of work to be done and he hoped it would start this July after planning matters are sorted out, and that it would be opened by July next year.

Part of the renovation cost will be covered by the Maryport Townscape Heritage Initiative, which is funded by the Heritage Lottery Fund, Northwest Development Agency and Allerdale council.

The Golden Lion is seen as being key to the initiative because of its prominence and history.

Joe Broomfield, Allerdale council’s townscape heritage initiative officer, said: “The Golden Lion has always been a priority target and it is fantastic news for Maryport that Philip and Janice have purchased the property and will be working with me to bring it back into use.

“The property occupies a prominent position at the top of Shipping Brow and is on a gateway into the town centre.

“The renovation will be a huge boost for the local economy and environment.”

Mr Cueto, a Maryport newsagent for 20 years, always said he would retire at his present age of 52.

But he said he had no immediate plans to sell his busy newsagents on Church Street.

He added: “This is not to say I will not sell in the next 12 months to two years.”

Mr Cueto said the project demonstrated his faith in the future of Maryport.