The unit in Weston-super-Mare includes five bars, a restaurant and a nightclub.
“Cabot 5 Bars represents a one-off opportunity for an operator to acquire an established landmark business,” said Nicholas Calfe, Director at Christie + Co, who sold the freehold on behalf of private owners.
“We believe JD Wetherspoon is the perfect company to take this prominent and distinctive business forward.”
Cabot 5 Bars occupies several four-storey buildings in a Victorian property, which are all operated as a single unit. The site, located on a seafront corner position, is spread over a basement, ground and mezzanine floors.
The unit has a total capacity for 770 people, with an outdoors 60-cover sun terrace, including further seating at the front of the building.
According to Christie + Co, Cabot 5 Bars is thought to be the largest freehouse in Weston-super-Mare, and already attracts year-round trade from locals and tourists.
The property, which has been owned and operated by the same family for four generations, also includes nine self-contained holiday or staff flats with a rooftop sun terrace. There is also large two-bedroom apartment on the first floor, with plans already drawn up for this to be converted into five additional self-contained flats.
JD Wetherspoon, the managed pub operator, purchased the freehold for an undisclosed sum.