NATIONAL Trust is set to close more than 130 holiday cottages due to falling profits.
The charity said it would cut the properties from its books – with most set to go on the rental market later this year.
The conservation charity owns more than 500 holiday cottages across the UK – but it is planning on closing down 137 of them this year.
It is understood that most of the cottages will be repurposed as homes and put on the rental market later in the year, according to The Telegraph.
The Trust has not yet issued a list of which properties will be closed and when.
But it is thought the remote Bird How, located on a rough farm track in the Lake District’s Eskdale Valley, is among the many properties earmarked to shut.
Elsewhere in the area, the Trust confirmed to local publication, Cumbria Crack, that it would close six holiday lets in the county.
This comes after the charity experienced a challenging financial period, after it was revealed its investment portfolio had lost millions in recent years.
Membership numbers have also plummeted – declining by 120,000 in the past two years.
Now, it has decided to cull some of its holiday let portfolio to alleviate local housing shortages and “deliver a greater financial return for the organisation”.
A National Trust spokesman confirmed 137 of their cottages would be “repurposed”.
They told The Telegraph: “We have reviewed our holiday accommodation to ensure all holiday cottages are financially sustainable.
“As a result, 137 holiday cottages will be repurposed, with most becoming long‑term rented homes that support local housing needs.”
The decision was “not easy” but was necessary to ensure the Trust could continue its “mission”, they added.
