Applethwaite, the joint venture between Maple Grove Developments and Robert Hughes, has completed its second project near Lake Windermere.
The Royal comprises seven shops and 16 apartments in the old Royal Hotel in the centre of Bowness-on-Windermere, and has attracted tenants including Tesco Express, Costa Coffee, Julian Graves and The House Shop.
In 2006, Applethwaite finished The Ferry House, a luxury residential development of a renovated 19th Century hotel across the lake from Bowness.
Speaking at an event to mark completion of The Royal, Andrew Dewhurst of Applethwaite, commented: "Our objective at the outset with Applethwaite was to bring new life to some of the North West's neglected landmark buildings. With Robert Hughes' expertise in luxury residential development and Maple Grove's long standing success in delivering complicated town centre schemes we have been able to bring two unique schemes to the market which retain the heritage and integrity of their original architecture, but bring them right up to date with the very best in modern design.
"We have received fantastic feedback from people living and working locally to The Royal and the profile of the national operators who have signed up to the scheme is a testament to its quality and appeal. We are already at the planning stage with our next two developments and look forward to delivering further niche regeneration schemes across the North West and beyond over the coming years."
Two small shop units are left to let through retail agents Carigiet Cowen and Robert Pinkus & Co. The apartments are due to be released for sale in early October.