Ian Robertson plans to use his property renovation firm to restore and improve his new purchase, the Clinton Arms in Frithelstock, Torrington, North Devon.
The inn will be run by his son, Peter, and his fiancé Debi who both have experience in the licensed and catering trade.
The detached, two-storey inn opposite the village's 13th-century parish church offers five letting bedrooms, of which Robertson is upgrading four and adding en-suite facilities to the fifth.
The open-plan main trading area can seat around 30 customers while the private dining room can accommodate another 24. Robertson plans to refurbish a small annexe to create extra dining space.
Other facilities include a single-storey detached barn that has been converted into private living accommodation, a small private garden, and permission from the parish council to use the green it backs onto as a trade garden.
Stonesmith of Exeter sold the freehold off a guide price of £450,000 on behalf of Wendy Kent.
By Angela Frewin