Blencathra has been listed as a community asset by Eden District Council.
The sale of the Cumbrian fell was agreed with an unnamed bidder for more than the asking price of £1.75 million on Friday.
Community group Friends of Blencathra were disappointed not to win the sale but say they are delighted the mountain has been designated a community asset.
More top news
Mainly dry until later on Wednesday. A cooler, showery and blustery end to May
Mainly dry. Light rain out of thicker cloud over hills. Breezy at times and cooler than average
A look ahead at the forecast for the Border region.