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 Ca ii 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 0.3 mag. 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. Based on the observations obtained at the Nordic Optical Telescope, Observatorio Roque de los Muchachos, La Palma, Canary Islands, Spain.Based on observations collected with the automatic 60-cm and the 1-m telescopes of Konkoly Observatory, Hungary.The photometric data are available in electronic form at the CDS via anonymous ftp to cdsarc.u-strasbg.fr (130.79.128.5) or via http://cdsweb.u-strasbg.fr/cgi-bin/qcat?J/A+A/515/A81