Bantham has been sold to an unnamed family for a reported price of over £10 million, despite a campaign to raise the funds needed by the National Trust.
The beach and surrounding area ended up on the open market after one of the family that owned it died.
The beach and village have been owned by the Evans family for over 100 years and the new owners have said they will "continue to manage and conserve the estate in the same manner as our clients have done for the next 100 years".
James Baker of Strutt and Parker Exeter told the Western Morning News: “On behalf of the Directors of Evans Estates we, Strutt & Parker and Michelmore Hughes, have agreed a sale of the whole of the Bantham Estate (subject to contract) to a family who will continue to manage and conserve the Estate in the same manner as our clients have done for the next 100 years.”
Mark Harold, South West Regional Director for the National Trust says: "We will of course continue to care and protect for ever and for everyone the 40 miles and 3,000 hectares of the South Devon coast we already care for.
"We would also want, if possible, to work with any future owners of Bantham Beach & Estuary and ensure that this beautiful location is continued to be enjoyed by the many thousands of people who have told us how much it means to them.
"We would like to thank everyone for their support of our fundraising appeal".