A former Welsh inn is to be converted into boarding school accommodation after being sold by Colliers International on behalf of owner Mapleleaf Holdings.
The Ye Olde Anchor Inn in Ruthin, Denbighshire, had an asking price of £299,000.
The inn, which dates back to 1742 and traded as a town centre hotel, has been acquired by co-educational day and boarding school Ruthin School from Mapleleaf, which closed the hotel in late 2012.
The sale marks the final exit from the hotel trade for leisure entrepreneur Stephanie Booth, a trustee of the pension fund that owns Mapleleaf Holdings.
She said: "I'm pleased that Ye Olde Anchor has found such a worthy new lease of life."
Ruthin School, which itself dates back to 1284 and caters for pupils aged 11-plus, is situated next to the hotel and plans to redevelop the site with new accommodation for its boarding pupils.
While trading as a hotel, Ye Olde Anchor Inn featured 25 en-suite letting bedrooms, a lounge bar and dining room and a restaurant function room.
Neil Thomson, associate director in the specialist hotels agency team at the North West office of Colliers International in Manchester, secured the sale on behalf of Mapleleaf Holdings.
He said: "The hotel was placed on the market after the previous owners took the decision to close the hotel in late 2012.
"Strong levels of interest were generated from a wide range of buyers including existing hotel operators and developers, offering a glimmer of hope to business and property owners that the market may be starting to see evidence of a recovery."