The Scole Inn has been sold and is set to become a Verve Hotel later this year.
The Grade 1 listed pub was sold by TW Gaze of Diss for an undisclosed amount to Strandpark Properties Ltd.
Managing director of Verve Hotels, Mark Reuben, said: “Driving up to Scole Inn, I knew this was a special property, but walking up the magnificent staircase I knew I had to buy this sad hotel.
“The paint had worn away, damp stains lined the ceilings, crumbling plasterwork, wood splinters, old broken furniture, no internet or telephone access and the list goes on.”
The Scole Inn dates back to 1655 and has many original features. Even King Charles stayed at the hotel.
Mr Reuben added: “I fell in love with the hotel and realised that it needed a lot of love, care and attention and most importantly lots of money to bring it into the 21st Century .
“But, I knew the rooms had to be kept the same as you are only able to carry out cosmetic changes to such a beautiful property.”
The hotel will close for refurbishments and the new owners hope that it will open in late September or October under the Verve group of hotels brand.
It will join other Verve hotels in London, Cambridge, Peterborough and Bedford.
However, some things are planned to say the same.
Mr Reuben said: “I am fortunate that the hotel will keep the same staff headed by the lovely Debbie Wright, the general manager.”
Licensed trade consultant at TW Gaze, Alan Crowest, said: “ Having known the property for decades and watched it trade through both good and lean times, I am delighted to see it now in the safe hands of Mark Reuben, who has plans to sympathetically restore the inn.”