A vacant warehouse building on Exeter Quay is set to be transformed into a new pub-restaurant and micro-brewery.
St Austell Brewery plans to invest £1.5m in converting the derelict 19th-century warehouse after buying it on a leasehold basis from Exeter City Council.
The building in Commercial Road was formerly home to the Mambo nightclub and Tiffany's lap-dancing club but has been empty for about two years.
St Austell Brewery is currently revising a planning application for the stone building and hopes to begin renovation works in early 2014, with the as-yet unnamed pub opening by next summer.
Adam Luck, estate director for St Austell Brewery, said: “We are delighted to have acquired a new site in this vibrant area of Exeter where there is such a lot of development right now with new venues on the Quay and the recently opened Haven Banks activity centre just across the bridge on the other side of the river.
“This is a historic, waterside building that has been empty for two years and is now completely derelict. We are looking forward to transforming it into a brand new pub and restaurant, bringing a new and exciting venue to the area for people visiting Exeter’s popular Quay to enjoy.”
The two-storey building dates back to the late 19th century when it was built as a bonded cellar. It has been empty for two years, having previously been used as warehouses, and more recently housing a variety of nightclubs.
The ground floor includes a 3,117 sq ft main area and 586 sq ft unit alongside, which will be transformed into a pub-restaurants with a small craft beer micro brewery.
The first floor will be sub-let and used to create five residential flats.
St Austell Brewery has been brewing real ale in Cornwall since 1851, and runs 168 historic and picturesque pubs, hotels and inns across Devon, Cornwall and Somerset. It has bought five new pub venues in the last year, and completed a £2m investment in a new cask operations plant at its base.