A mystery buyer has bought the historic Downs House and stables next to Epsom Downs Racecourse for £1.1million and has pledged to return it to ‘its former glory’ as a place to train racehorses.

Surrey Comet:

The late 18th Century Grade II listed five bedroom property, pictured above, on Epsom Downs includes 10.6 acres of grass and woodland, the Eclipse barn, bothy, training yard and 43 horse boxes all within a few hundred yards of the start of the world's premier flat race.

July 2014: Preferred buyer selected for sale of historic horse-training yard Downs House

Epsom Council said it had taken time to sell because, while there had been many approaches for various purposes including those who wanted to live there, the council wanted to return it to use as a racehorse training establishment.

It took back control of the run-down property in July 2012 after deciding not to renew the lease of its last trainer, Philip Mitchell, whose family had been training racehorses there for 48 years.

January 2014: Sale of historic horse training yard Downs House falls through

It was appointed to horseracing and equestrian specialist Bidwells to sell it with offers invited in writing for freehold interest with an original guide price of £1.1m.

The new owner, who wished to remain anonymous, has put out a statement confirming that the property, which is in a poor state of repair, will be fully refurbished and updated to prepare it for future use as a training facility.

In a statement released via the council, the buyer said: "This is a fantastic opportunity to return a piece of Epsom thoroughbred history back to its former glory".

Epsom equestrian Caroline Baldock said: "This is wonderful news because it really is the Jewel in Epsom’s crown.

"It has been desperately neglected over the years and I’m just so relieved and thrilled that there is hopefully someone who is willing to put the money into it.

"The rumour is that the owner may be bringing in an Australian trainer which is wonderful because Epsom really needs to be rescued. We need horse trainers and horses coming into Epsom."

Woodcote councillor Liz Frost, chairman of the Epsom Downs Conservators, said: "This is a fantastic result for the council and for the community.

"We have gained necessary funds which can be put into the delivery of local services.

"We have released an asset that would have started costing the council considerable money to maintain, and, as demanded by local residents, we look forward to the property being brought back into use as a racehorse training establishment.

On behalf of the conservators and the council, I wish the purchaser every success in this exciting new venture."

The Eclipse Barn on the site, is named after its most celebrated resident, Eclipse, the famous eighteenth century racehorse.

Eclipse was foaled during a solar eclipse in 1764. It won 18 races, was undefeated and is, reputedly, the ancestor 95 per cent of today's racehorse bloodstock.