The Dunvegan Hotel in St Andrews is a popular watering hole for players and caddies after a round in the Fife town.
After being owned and managed for more than 20 years by Jack and Sheena Willoughby, it was put up for sale last year for just shy of £3 million, attracting interest from around the globe.
A deal has now been sealed with Forth Bridge Capital LLP, which is a consortium of golfing enthusiasts from Canada and the USA.
“We are a delighted to have concluded a deal with the principals at Forth Bridge Capital,” said the Willoughbys.
“Having been owners for the past 23 years, it’s obviously a bittersweet time for us hence we were always hoping to find buyers of a like-minded nature to ourselves to take the Dunvegan into its next era’.
“There is no doubt we have accomplished this goal as the new owners are all golfers and are well known to us and to the Dunvegan.”
The Dunvegan has hosted legends of golf as well as other sports, screen and politics and has helped shape some great memories for golf enthusiasts from around the world.
Under the new owners, it is expected to be business as usual in the pub that sits on the corner of Golf Place, the road that leads down to the world-famous Old Course.
“We are very happy to be involved with Jack and Sheena who have been a pleasure to deal with and we are committed to ensuring The Dunvegan remains one of golf’s best experiences,” said a spokesperson for Forth Bridge Capital LLP.
“We look forward to a long and exciting future for our long-standing patrons, our new friends and golfers from around the world.”
Forth Bridge Capital LLP is a UK-based investment company specialising in sports-related businesses and properties. It is owned and managed by golf enthusiasts, industry executives and tour professionals.
During the six months marketing period, property company Pagan Osborne managed an unprecedented volume of enquiries from around the globe for the Dunveygan.