Grade II listed Ollerton Hall, which has been empty for around 50 years, is to be restored and transformed into eight apartments.

Plans to develop the site into a care home never happened before the site was reacquired by Newark and Sherwood District Council, which aimed to find a developer that would do justice to the important building. Severns (Ollerton) Ltd said it would maintain the hall’s historic character and architectural features.

Coun Paul Peacock, council leader, said: “It was very important to us that plans for this beautiful place were respectful and protective.

“We’re really reassured that it’s now in the hands of people who have previous experience in doing fantastic work with heritage buildings and I’m looking forward to seeing the building brought back to life in a way that retains its integrity, while bringing it up to date in terms of safety and practicality.”

Coun Lee Brazier, portfolio holder for Housing, added: “We know that this has been a long time coming and we’re happy to finally be getting it over the line so that work can begin.

“As an Ollerton local, this building means a lot to me; it’s the gateway to the town and it’s been so upsetting for all of us to see it go unused. It really is wonderful news that this stunning building will be returned to some of its former glory.”