Museum's classic cars worth £1.5m set for auction

The museum was a retirement project for Frank Loft

A museum's collection of classic cars thought to be worth £1.5m is set to go under the hammer unless a buyer can be found.

Frank Loft, 73, hopes to sell the Moretonhampstead Motor Museum as a going concern but said it was unlikely he would find anyone "mad enough to take it on".

The building is on the market for £445,000 and its 150 cars are set to be auctioned in October.

"My philosophical view of it is that each and every one of these vehicles will go back to someone who will dote on them and enjoy them for what they are," he said.

The Jaguar XK150 which Frank Loft will keep

The Ariel motorcycle is another prized possession which will not be sold

LISTEN: Frank Loft speaks to BBC Radio Devon about his beloved museum and collection

The museum, which was a retirement project for car collector Mr Loft, is due to close at the end of August.

"This has been a difficult and emotive decision to make, however I am looking forward to my second retirement," he said.

The collection consists of mostly British vintage cars and motorcycles which Mr Loft considers are design classics.

The museum building is on the market

Frank Loft said selling the museum had been an emotive decision

"There was a lot more opportunity for art going back in history," he said.

"Designers had a freer hand whereas today everybody is straightjacketed by wind tunnel results and making sure there’s nothing sticking out from anywhere."

Mr Loft said his car collecting days were behind him but he plans on keeping a couple of vehicles, an Ariel motorbike with side car, and a Jaguar XK150.