North Walsham's former Divine restaurant, which later became CST's Bar and Grill, sold for �75,000 at auction on Monday.
The site, empty for more than a year, holds centre place in the town's semi-derelict St Nicholas Court, and is seen as key to the future of the shopping precinct.
It was sold under the 'Leisure' section of the auction, held at London's Park Lane Hotel.
Auctioneers Allsops declined to disclose details of the buyer. Among other lots in the sale was the Aylsham Lodge Hotel, on the town's Norwich Road, which sold for �260,000. Ranald Maxted has a lease on the business until 2019.
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