The Olivant family of Cornwall plan to open a new fish restaurant on Valentine's Day next year at the Pilots Wharf development in Exmouth Marina, Devon.
The family, which has a long history in the catering and hospitality sector, has bought three ground floor units in the waterside development that overlooks the marina and the Exe estuary.
The Pilot Wharf development will incorporate around 250 houses and apartments when completed.
The new restaurant, Olivants, will be a top-quality café-bar-restaurant specialising in fresh, local, seasonal fish dishes.
It will seat up to 100 diners in the restaurant and another 80 on the patio.
Olivants will be managed by Mike Olivant, with help from his mother Anne and brothers Thomas, Christopher and Peter.
Property agent Stonesmith of Exeter sold the 125-year leasehold on the empty units for close to the £375,000 asking price. The annual rent is £400.