One of Bermuda's best-known landmarks, the Fourways Inn, has been taken over by the Little Venice group.

Majority shareholder Sir John Swan yesterday announced the sale of the business and property, which dates from 1727.

The purchase means that the Little Venice group - formally known as MEF Ltd. - is now not only in the restaurant and catering trade, but in the rooms business as well as the property includes guest accommodations.

MEF Ltd. own and operate the Little Venice, La Coquille, La Trattoria, Harbourfront, L'Oriental, Cafe Lido (now Lido) and Mickey's.

MEF director Emilio Barbieri told The Royal Gazette the Fourways guest units would continue to be rented out to tourists but that the company plans to limit the venue's dining concept to private parties and group functions. It will also serve as the "hub" for the group's catering division.

Mr. Barbieri said he expected MEF will be able to "absorb almost all of the Fourways staff in to our operation". He added that work permit holders would be subject to immigration approval.

A joint press release from Mr. Barbieri and Sir John said: "The venue will be used by the group primarily in two ways; firstly to be utilised as a group function complex, and secondly as a much needed headquarters for the catering division which has been operating until this time from their restaurants in Hamilton." The name will remain as Fourways Inn.

Sir John told The Royal Gazette he had been involved with Fourways for almost 25 years now and through the years had bought out other shareholders until becoming the majority shareholder.

The sale was effective from yesterday and Sir John said he and other shareholders - whom he declined to name - jumped at the interest from MEF. Sir John added that he had always viewed the property as a real estate investment. He said it made sense to "take the opportunity to dispose of it" as the property is a perfect fit for MEF's needs.

Mr. Barbieri said the Fourways pastry shop could undergo "revamping" but would continue to be open to the public up to seven days a week.

Meanwhile, Fourways will be up and running under its new owners in short order with a wedding being held there on Saturday. Mr. Barbieri added that all existing Fourways bookings will be honoured.

MEF have also gained the concession for the new fast ferries.