The brewery exchanged contracts with the Morcom family business in Charlestown, Cornwall, with completion due to take place on Friday (9 December).
The site will be run by British Institute of Innkeeping (BII) Licensee of the Year winners Rob and Lucy Brewer, who own the Rashleigh Arms, also in Charlestown.
A ‘fantastic building’
A St Austell Brewery spokesperson told The Morning Advertiser: “We are really pleased to have been able to add the hotel to our portfolio, it is a fantastic building.”
“The site will be run as a hotel for the foreseeable future. We are not rushing into anything.”
A spokesperson said the brewery wanted to buy the family-owned site because of its “wonderful location” facing the World Heritage status Georgian port.
They said: “It was quite an emotional time for the current owner of the hotel, but it was an amicable sale.”
They added: “The hotel will need work doing to it, and we will be announcing plans in the near future.”
A ‘unique setting’
St Austell Brewery CEO James Staughton said: “It is no secret that the Pier House has long been on our wish list.
“It is a remarkable building in a unique setting and the Morcom family has done an amazing job maintaining it at such a high standard for so many years.”
The Morcom family used to own the Rashleigh Arms before the brewery purchased the site from them.
Staughton added: “We will certainly continue their legacy of working to provide the highest standard of service to locals and visitors alike.
“We thank the family for their support and the professionalism with which they have conducted themselves at all times during the talks that we have had with them.”
Rob and Lucy Brewer were not available for comment.