We present BV(RI)c and JHKs photometry and low- and high-resolution spectroscopy of the 11th mag G-type star TYC 2627-638-1. Our investigation reveals that the target is separated into two young, early-G-type main-sequence (or late pre-main-sequence) stars, which are most probably bound and form a wide binary system. A substellar body orbits the brighter component as implied by radial velocity variations. The brighter component possibly also has a faint, later type stellar companion. Both components of the wide binary have clear emission cores in the CaII H&K lines and filled-in Halpha absorption, indicating that both stars are chromospherically active. Our photometric time series reveals clear but only a few hundredths of a magnitude amplitude rotational modulation, which is most likely due to cool starspots. Two distinct periods, near 3.5 and 3.7-days, are found in the brightness variations. Photometry obtained separately of the two components of the wide binary show that these periodicities belong to the brighter star. The fainter component shows a much slower light variation of about 0.3mag. amplitude. In addition, long-term changes in the brightness of both stars are seen. The spectral energy distribution shows a strong near-infrared excess in the fainter component of the wide binary.