Mr de Savary has said he is planning a major expansion of tourist facilities at the famous landmark.

The 105-acre site was previously owned by the Welsh property millionaire, David Goldstone, who outbid the National Trust for the granite crag.

He spent £1m on redevelopment of Britain's western-most point but ran into local opposition after he imposed an admission charge in 1983.

Two years later an inquest jury called for better safety provisions on the site after four schoolboys were washed off rocks by giant waves and drowned.

Mr de Savary said the site offered "an outstanding opportunity to generate substantial profit from tourism" but said his plans would put to rest the fears of local people.

"Things will be done with sensitivity. There will be no steamrollering," he said.

He would not be charging an admission fee to Land's End, Mr de Savary added.

America's Cup

The businessman is to spend £2m redeveloping the site.

Among the plans are a hotel and a tourist facility with an "audio visual experience", telling visitors of the history of Land's End.

The acquisition of Land's End is the latest in a string of purchases by Mr de Savary in Cornwall.

He also owns Falmouth Docks and other waterfront land where he hopes to build a container port.

Mr de Savary also wants to use the Falmouth Docks as a base for the construction of a yacht which he hopes could win the America's Cup.

The keen yachtsman financed Britain's last challenge for the sport's most prestigious trophy in 1983.

Away from Cornwall, Mr de Savary owns Littlecote Park, a stately home in Wiltshire which won the British Tourist Authority's award for best commercial tourist attraction earlier this year.

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