Keith and Gay Howes from Bedford have made their first foray into hospitality with the purchase of Buckley Pines hotel in the Dyfi Valley.
The property, which commands views of the Snowdonia National Park in Wales, is on the edge of the village of Dinas Mawddwy, between Dolgallau and Machynlleth.
It was built in 1873 by Sir Edmund Buckley, the son of a wealthy Manchester businessman, and has the distinction of being the oldest reinforced concrete building in Europe and the second oldest in the world.
Along with six en-suite bedrooms, the hotel offers a residents' lounge, a 45-seat restaurant/cocktail bar, and a bistro area with raised seating for another 21 diners.
Four-bedroom accommodation is provided for the owners.
The River Dyfi runs past the rear of the property, which includes a beer garden with a circular bench surrounding a pine tree. The hotel has half a mile of fishing rights.
The Manchester office of Christie + Co sold the freehold off a guide price of £495,000 on behalf of Gary and Liz Wilson, who bought the property eight years ago.
By Angela Frewin