Correction: Jeetu Satpute and Milind Satam are the local investors who purchased the property. They reached out to Glenside Local to note that the Journal’s information was inaccurate and that their article has since been updated.

Jeetu Satpute and Milind Satam purchased the Joseph Ambler Inn in Montgomery Township for $5.725 million in October, The Philadelphia Business Journal reported.

The 52-room restaurant, bar and event space has been owned by Richard Allman since it first opened 42 years ago. Allman converted the 12-acre property from a farm into a 15-room bed and breakfast, renovated other existing buildings, moved two historic houses onto the land, and gradually added more guest rooms, the restaurant, the bar and the event spaces, The Journal said.

The new owners said the North Wales property will continue to operate as a hotel, which is named after the land’s former owner Joseph Ambler.

For more on the Joseph Ambler Inn, you can visit this website.

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Photos: Joseph Ambler Inn