Instructed by owners Alan and Lynn Salter, Colliers sold the property to Monique and James Nelson who are relocating from the North East of England.
Dating from 1880, Melrose Guest House has eight letting bedrooms and a separate three-bedroom house for the owners.
The Salters, who recently acquired The Old Post Office Tearoom at nearby Troutbeck, have significantly upgraded the property to create a successful business with annual turnover of almost £150,000 and significant profits.
Haydn Spedding, associate director, hotels agency at the Manchester office of Colliers International, secured the sale and said: “This type of property combining a strong business with outstanding separate owners’ accommodation is everyone’s vision of an ideal Lake District guest house.
“The sale prompted much interest, further underlining the strong performance of the local hospitality industry since the vote to leave the EU and reflecting rising interest in the Lake District’s status as a World Heritage Site.”