David and Jackie Barnard have sold the Stargazy Inn in Port Isaac, Cornwall, to chef Nathan Outlaw and his wife Rachel off a guide price of £1.85m for the freehold.
The restaurant has nine bedrooms and the Outlaws plan to refurbish the accommodation and relaunch it as an exclusive venue, joining nearby Outlaw’s New Road and Outlaw’s Fish Kitchen.
Nathan said: “Rachel and I are over the moon to get the keys to such a lovely property. Over the last seven years I’ve been gazing at the property from our restaurant Outlaw’s New Road, just a stone’s throw away, dreaming that one day we could get our hands on this property and now we have the keys.
"We are so excited to have brought such a great place and can’t wait to get going with Outlaw’s Guesthouse.”
Hotel advisor Simon Stevens Associates in conjunction with Charles Darrow acted on behalf of the Barnards.
David and Jackie Barnard said: “We wish Nathan and Rachel who have been our friends and neighbours for the last seven years the greatest success with Stargazy Inn. Our thanks go out to Simon Stevens for once again being the best and most helpful man in the business.”
The couple will continue to operate the Port Gaverne hotel and Pilchards on the Beach.
Simon Stevens and Jon Clyne, who acted for the owners, said: “We were instructed to run a confidential marketing campaign. Nathan confirmed his interest in the Stargazy Inn that would be a perfect opportunity, given his expanding business profile.
"With competitive interest, terms were agreed quickly with Nathan and Rachel who plan to reposition the business. Further information will follow over the coming months. We wish Nathan and Rachel continued success in their new venture.”