Wentworth Woodhouse, considered as Europe's largest private house and a piece of British heritage, was recently bought by the Lake House Group, a Hong Kong based investment company, according to BBC News.

Wentworth Woodhouse served as an inspiration for Pemberley.

Pemberley was a fictional estate owned by Mr. Darcy, a main character in Jane Austen's bestselling novel, "Pride and Prejudice".

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Located in Rotherham, Wentworth Woodhouse boasts of more than 300 rooms and is even larger than Buckingham Palace. The estate was put on the market in May with the original price of £ 8M (approximately US $1.2 Billion)

Terms and conditions of the sale have been finalized with the Lake House Group, but the selling price remains undisclosed, according to Estate Agents Savills.

Savill added that Lake House Group is due for signing of a formal contract and completion of the purchase of the property. As the privileged buyer, the Lake House Group was enthralled to be involved in this major purchase.

"It is our hope that we can work with some of the organizations which have also shown an interest in the property in order to save and preserve this magnificent historic house," said a representative of the Lake House Group.

Repairing some parts of the estate would cost approximately £42 million (US $63M) due to its large infrastructure that needs frequent maintenance. One of the wings was first constructed in 1725 and extends up to 82 acres.

The estate is considered a Grade I listed house and took 25 years to complete its construction. The construction was facilitated by top-notch architects, including John Carr.

Wentworth Woodhouse served as the official residence of the Marquesses of Rockingham and was deemed one of the greatest Whig palaces of the 18^th century.

In 1999, the mansion was purchased by Clifford Newbold, an English architect.

Newbold initiated a restoration project for for the estate but was cut short when he died last April. The restoration project also faced challenges of subsidence due to mining.

Newbold's family made the decision to put the estate on sale after his death.

The name Wentworth Woodhouse was derived from three prominent families: Wentworth, Watson and Fitzwilliams.

TagsWentworth Woodhouse, Hong Kong, Lake House Group, Pride and Prejudice, Mr. Darcy's house