FLEETWOOD'S landmark North Euston Hotel has changed hands.
The key seafront site has been the subject of speculation for more than 12 months with a previous sale having fallen through earlier this year.
But now Paul and Fiona Spearman have moved in from their previous hotel, the 53-bedroom Langdales on Clifton Drive North, St Annes, and will run the business as a family concern.
They have daughters Vicky, 33, who will work with them, and Katie, 30.
The news is likely to be welcomed by the 80 staff at the hotel which has been sold by Elizabeth Hotels.
No selling price has been revealed for the 54-bedroom North Euston, but it could be in the
region of 4m.
Around 5m was asked when it first went on the market, but Elizabeth Hotels later dramatically reduced the price to increase interest.
The hotel is seen as a cornerstone of the town's social life and economy.
Mrs Spearman said: "We do have a lot of plans but we are also aware of the fact this is a listed building and a local landmark.
"It is part of Fleetwood's heritage and is a beautiful hotel."
She added: "It's a dream come true to buy a place like this.
"Whenever we came to Fleetwood we would call in here and have a coffee and we always spoke about how wonderful it would be to buy it.
"When it came on the
market we decided the time was right."
Leader of Wyre Council, Coun Russell Forsyth said: "The North Euston has always flourished best when it was run by families such as when Jim and Moira Cowpe had it in the 1990s.
"It is an integral part of the fabric of Fleetwood. It has always been a vibrant place."