Southampton restaurateur Simon Reed has snapped up the waterfront Blue Oasis restaurant and bar in Southsea for an undisclosed seven-figure sum.
The single-storey property on Clarence Esplanade was built by previous owner Tony Caparco in 1992 on the site of a former lifeboat station.
The restaurant, which commands views over the Solent towards the Isle of Wight, has a strong local trade on top of the summer tourist business.
As well as a 150-seat restaurant and bar inside, the property has an enclosed terrace with seating for another 100 customers that also serves as a dance floor and DJ area for functions.
The Winchester office of Christie + Co sold the leasehold (which, at 125 years from 1994, is a virtual freehold) within just eight weeks of marketing the property.
By Angela Frewin