The Ferry Boat pub in Stoke Bardolph will remain open despite the sale of land it occupies.
The land which houses the iconic riverside Public House and associated car park and football pitches was sold this week at auction by Nottingham City Council, who own the property.
The council were forced to sell in a bid to balance their books.
The guide price for the sale of the land was 180,000-200,000 and it fetched a price of £214,000 at auction.
It is not known who yet won the auction.
The auction guide states: “The Pub is subject to a lease and is not affected by this sale.”
The pub owners Greene King has a lease agreement with 49 years remaining.
The pub is run under their Hungry Horse chain.
Nottingham City Council announced last month that it will now have to sell off some of its assets including land in order to claw back nearly £1bn of debt it owes.
The Council has been warned that Government commissioners could take control of the Labour-run authority if it does not make satisfactory progress on reducing its huge debt.
The Labour-run authority has three years to get its house in order on the back of a string of financial issues including setting up a failed energy company, Robin Hood Energy.
The pandemic has cost the authority £66.5 million due to lost income from leisure centres, parking income and the Theatre Royal and Concert Hall being closed at the height of restrictions.
Despite Government grants and compensation of £50.1 million, it has left the local authority with “an unfunded Covid-19 gap” which now stands at £19.4 million.
This is coupled with the high amount of external loan debt it has acquired of £932.7m, from which it has managed to shave off £141.8m over the last year.