A KINGSTEIGNTON couple's dream has come true after their favourite pub was sold to them for £1.

John Barden, 47, and his partner Jayne Anglesea, 48, bought the Bell Inn in Fore Street on June 26.

The owner, a retired local businessman who wishes to remain anonymous, offered the pub to them after he was unable to sell the lease at its full value of £50,000.

The couple are former managers of the pub and have worked for the businessman on and off for 10 years.

New owner John said: "The Bell has always been our first love and he wanted to give us this golden opportunity because of our loyalty over the years.

"He could not give it to us so he said he would sell it and offer it to us first, but with our funds the way they are and the economic climate at the moment, it was something we could not even think about.

"He then said we might be able to afford it and said he wanted £1. We were dumbfounded. Jayne said yes and gave him £1."

The pub has had three different managers in the past 12 months.

The businessman told Bettesworth estate agents, who originally put the property on the market, the business required some 'stability'.

The couple, who have lived in the village for 14 years, say they intend on staying and have already replaced parts of the roof and bought some new fixtures and fittings.