Veronica Hobbs and Richard Estcourt from Avon have bought the Union Inn at Dolton in Mid-Devon off a guide price of £450,000.
They plan to convert the 17th century Grade II-listed inn into a food-led destination pub.
Set in the heart of the village, the Union Inn includes three en-suite bedrooms that are popular with anglers who fish at the nearby Stafford Moor fishery.
The ground floor incorporates two bar areas, a pool room with seating for 45, and a 38-seat restaurant.
The owner's accommodation includes three bedrooms, a family bathroom, a kitchen, a utility room, a dining room and a lounge.
The new owners plan to landscape the two walled gardens to the rear and install picnic-style benches that can seat up to 36 customers. The forecourt will be converted into a trade patio area with more benches.
Stonesmith of Exeter sold the freehold on behalf of Amanda Thomas
By Angela Frewin