The freehold pub and restaurant, near Lymington in the New Forest National Park, was sold on behalf of Heartstone Inns.
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LSH said the marketing campaign generated strong interest from a range of prospective buyers, including established pub companies and private owner-operators.
The Grade II listed property operates as a community and family pub and restaurant, with 150 internal covers and a further 80 outside.
It also includes 11 en-suite guest bedrooms, with planning permission secured for four additional rooms.
Competitive process
Neil Morgan, director of operational real estate at LSH, said the sale showed continued demand for high-quality freehold pub assets in strong locations.
He said: “Its position within the New Forest, close to Lymington, combined with a strong established business, letting accommodation and further development potential made this a particularly attractive opportunity to the market.
“We received interest from both established pub groups and private operators, creating a competitive process which ultimately enabled us to achieve a sale price significantly in excess of the £1.2m guide price for our client.”
Morgan added the deal was further evidence that well-located hospitality assets could command strong pricing when positioned and marketed effectively.
Heartstone Inns managing director James Birch said: “We are pleased to have sold the Walhampton Arms and as a result we can continue to develop and expand our estate of large food-led managed pubs with rooms.
“We would like to thank our transferring staff for their loyalty and hard work and wish them, our customers and the new owners the very best for the future.”
The sale was handled by LSH’s operational real estate team.
