The former Palace Bar is set to reopen before the end of the year, with an application for a licence for the premises to be heard at the annual licensing court this month.
Drummer with The Blizzards, Declan Murphy, who runs The Fence and Daly's in Mullingar, and Alan Clancy, who runs several popular nightspots in Dublin, are to apply to the court, through their company Rocket Trend Limited, for a licence for the premises on September 27 next.
The landmark premises has been vacant for the past three years, but is now likely to reopen before Christmas.
Plans for the new nightspot are in their infancy at present with the would-be licensees are presently going through the paperwork stage before coming up with more concrete plans for the building.
The premises was sold late last year to the Comer Brothers from Galway, but the sale price was undisclosed.
The Comers, who are originally from Glenamaddy, have built up a substantial property portfolio in Ireland over the past six years. When the property went on the market in April last year a price of €650,000 was quoted.
The property spans 930 square metres/10,000 square feet over three floors.
For several years it has been hugely popular as a hub of nightlife activity.