Glenville House has been sold from an asking price of £885,000 by the North West office of Colliers International.
The property on Lake Road between Windermere and Bowness was owned by married couple Craig and Lynn Wright who are retiring to move closer to their family in Huddersfield, Yorkshire.
It was acquired by Peter and Jayne Hellmann who are moving from Newton-by-the-Sea near Alnwick in Northumberland.
Glenville House has seven bedrooms, owners' accommodation with two bedrooms, a car park and private gardens.
Haydn Spedding, associate director of Colliers International in Manchester, said: "The sale of this iconic Lakeland guest house underlines the continuing interest in Lake District guest houses in one of the most sought after locations in the country."