THE fate of an ancient painting found in the attic of Okehampton's town hall has been decided.

The 18th century painting, which shows parts of Plymouth's Naval Dockyard and coat of arms, was recently valued at between £300 and £400.

After restoring the painting with a new frame last month, town councillors took the painting to Plymouth City Council, but it was returned after no interest was shown in the artwork.

Town councillor Kay Bickley said the council had not given up hope of rehoming the painting: 'We have decided to send the painting to a specialist auction.

'The painting has no interest to us locally because it features Plymouth, but it will bring in money for the town and the council when it is sold.

'As soon as we find a reputable auctioneers, it will go.'

Cllr Bickley said the council was happy to take in paintings, particularly those representing the past.

She said: 'We are always pleased to hold paintings for the benefit of the town.

'We try to exhibit anything with value and what people will be interested in.

'That's why we have them restored, framed and hung — so that people can enjoy seeing them displayed.

'This particular painting is of Plymouth's Naval Dockyard, but we are sure it will generate a lot of interest when it goes to auction in the not too distant future.'

Town and West Devon Borough Cllr Christine Marsh said she felt sad the painting could not be kept in Okehampton.

She said: 'This was one of the paintings discovered in the cupboard in the hall.

'We have restored a lot of paintings, which are now hanging in the Charter Hall, one in particular in the council chamber.

'Not all of our paintings are local, but it's a shame because nobody seemed to want this one.'

Cllr Marsh said she felt confident there would be a lot of interest: 'There are people out there who will want this painting because it is an historical piece.

'I hope they put a reserve on it because if it doesn't sell, I might actually go for it myself.'

The chosen auctioneers will be announced in the next few weeks.