NOTTINGHAM law firm Fraser Brown has secured the purchase of Long Island bar, in Market Street, Nottingham.
The city centre venue has most recently been known as Bar Circle but was previously called Long Island Iced Tea and since then has had several owners.
Now, Lee and Michelle Carroll say they plan to restore the venue to its former glory.
They already own The Stage and Foxys in the city centre and have 30 years' experience in the pub and entertainment industry in Nottingham.
Mr Carroll said: "I was the manager of Long Island bar several years ago and I have always believed the venue has a great potential to offer people a good, enjoyable night out.
"I'm looking forward to restoring the venue to the great place it used to be and attracting a high reputation among Nottingham's nightlife offerings."
Peter Thornley, partner at Fraser Brown, who dealt with the legal acquisition, said "We have worked with Lee and Michelle many times now and it is great to see a landmark city centre property taken on by a local couple who are passionate about Nottingham.
"The bar is due to open this summer."