It is known for its stately homes and country mansions – and its bank-breaking car parks. Now the National Trust has added one of the Lake District’s loveliest views to its portfolio, after the landowners decided to share it with the nation.

The panorama from Brackenthwaite Hows was painted by JMW Turner in his 1797 watercolour Crummock Water, Looking Towards Buttermere, and offers splendid 360-degree views across the north-western Lakes. It was spotted by the artist on his first ever visit to what later became the national park, and was the basis for an oil painting he exhibited at the Royal Academy.

It is the first time in recent memory that the National Trust has bought a site specifically for its vista, according to a spokeswoman.

Also known as Lanthwaite Hill, the viewpoint was a popular stop in the Georgian and Victorian era but fell out of fashion. It has now come to be regarded as a hidden gem. Known and loved by local dog walkers and intrepid ramblers armed with an OS map, it has been largely ignored by tourists, who prefer to scale famous peaks such as Scafell Pike and Helvellyn.

Now the landowners of the 77-acre site have sold it to the National Trust so that it can be enjoyed by everyone for ever.

The Trust paid £202,000 for the land from three different owners, one of which – the Hill family, who used to live in the area – decided to give their share back to the charity.

Ruth and David Hill said: “We have owned and cared for a share of Brackenthwaite Hows since 1990. During that time, we were privileged to maintain the property and walk this magical summit in all seasons.

“We always wanted the National Trust to look after the property as we felt they would be the best possible custodian of its heritage. We are pleased we have been able to play our part to bring that about.

“We would encourage others to consider the wider benefits of giving such properties to be cared for on behalf of the nation, so the natural beauty can be preserved.”

Since the 18th century, Brackenthwaite has become a popular spot with locals, and is a much-loved area of woodland and heathlandrenowned for its views, bluebells, wildflowers, wildlife and fascinating history.

Tom Burditt, general manager for the National Trust in the North Lakes, said: “We’re delighted and really proud that we’ll be looking after Brackenthwaite Hows thanks to a generous donation from Ruth and David Hill.

“We’re going to explore ways to improve access routes to the historic viewing station, a very special place within a world heritage site. We know it was visited by Turner and formed a popular stopping off point for early Lake District tourists in the Georgian and Victorian eras.

“We’ll work hard to support this area of high cultural and ecological importance, which neighbours woodland, fells and lakes that we already look after. We plan to maintain its mosaic of veteran and younger trees and heathland habitats which provide a haven for rare birds, bluebells and red squirrels.”

Turner painted other masterpieces while visiting land now owned by the National Trust. Perhaps the most famous is Petworth house in West Sussex, the home of his patron, the Earl of Egremont, which he depicted from the lake one dewy morning.