An 11 mile stretch of canal between Brayford Pool and Torksey has been sold at auction for £255,000.
The auctioneers could not give out the name of the canal’s new owner but said that the private investor has bought similar properties before.
Believed to be the oldest man-made waterway of its kind, the Fossdyke Canal was built to provide an important link between the River Witham and River Trent.
It had a guide price of £200,000 when Acuitus Auction started bidding at the Montcalm Hotel in London.
When the new owner takes over they would achieve £9,500 in rent each year.
The tenancy for the Canal and River Trust has been open from 1846 and will finish in 2740, so for a total of 894 years.