La Collina in Little Brickhill will soon close its doors after 13 years, and MKFM can reveal what independent business will take its place.
La Collina, which opened during the 2007 recession, announced its closure on social media earlier this month.
The owners will still continue to run their online shop of Italian food, but have sold their Watling Street-based premises to another independent company.
MKFM can reveal that two people, called Simon and Louise, have acquired the unit and are planning on opening The George - a traditional village pub - in the Spring.
The new owners will spend the coming months renovating the site and will keep people updated with their progress on The George's social media.
Simon and Louise say they would like to offer a "warm welcome in a family-friendly environment" when the village pub opens.
They added: "We aim to offer a traditionally British menu with a slight Mediterranean twist, using seasonal quality produce. In the summer months we plan to utilise the beautiful garden, offering outdoor dining, BBQs and Hog Roasts, and of course Sunday Roasts!"
Dozens of residents have since shared their excitement about the pair's new venture, and have wished them luck ahead of the much-anticipated opening.
One local said: "Welcome to the village and good luck! Exciting news in difficult times. Looking forward to your opening."
