Two Oxfordshire operators have bought the Merrymouth Inn in the Cotswold village of Fifield in Oxon.
The landmark inn occupies a one-acre site on the A424, one of the busiest tourist routes through the Cotswolds, mid-way between Stow-on-the-Wold and Burford.
The stone-built inn is believed to have been named after the Murimuth family who owned the village 600 years ago.
Along with nine letting bedrooms to sleep 20, the inn provides a four-bedroom flat for owners and two staff bedrooms with either an en-suite shower or a private bathroom.
The trading area includes a 50-seat restaurant and a bar with part-exposed stone wall and timbers, bay windows with window seats, and open fireplaces. Outside, there is a paddock, separate parking for staff and customers, and a courtyard garden.
New owners Bill Prince and Mo Rudd have run the Red Lion at Brightwell-cum-Sotwell, near Wallingford, for the past 10 years.
The Cirencester office of Colliers Robert Barry sold the freehold off a guide price of £750,000.
By Angela Frewin