A STATELY home yesterday became the highest profile asset to be put up for sale by a crumbling North-East business empire.

Wynyard Hall, one of the region's finest properties, which comes complete with nearly 800 acres of parkland, two lodges, a 15-acre lake and a former horseracing yard, is available for £8m.

Bought in 1987 by former Newcastle United chairman Sir John Hall, it is currently the home of Sir John's son, Douglas, and his family.

Douglas Hall's business, Cameron Hall Developments, previously in debt to the tune of an estimated £40m, sold 3,000 acres of the estate for about £10m earlier this year.

The Northern Echo understands Wynyard Hall, near Stockton, the headquarters of Cameron Hall, has been discretely marketed for sale for more than a year.

At one stage, a deal was believed to have been mooted to sell it to a hotel company.

It is among a number of assets sold or being sold by Cameron Hall, which developed Gateshead's MetroCentre complex. These include most of the company's stake in Newcastle United and Wynyard Hall golf course. The plug was also pulled on a sponsorship deal with Gateshead Football Club.

Cameron Hall Developments, and sister company Cameron Hall Properties, are facing a fine of £1,000 for late filing of accounts at Companies House.

Accounts for both companies were last made available two-and-half years ago.

The late returns have fuelled speculation over the future of the Cameron Hall empire, which was built by Sir John, although an explanation has been given to Companies House.

Last night, estate agents FPD Savills, from London, said it expected huge interest in Wynyard Hall from all over the world.

Spokesman John Vaughan said: "The property is well valued and we are expecting considerable interest from international figures."

The former seat of the Marquess of Londonderry, whose visitors have included Winston Churchill and Harold Macmillan, is grade II* listed and was restored to its former glory by Sir John Hall.

Its many features include the Octagonal Hall, extending to the full height of the house, and lavishly decorated with stained-glass windows and six types of marble, and the mirrored drawing room with its painted and gilded ceiling