Plans to develop the former Fenwick building in Leicester city centre have been submitted to the council.
Developers Aimrok Holdings will be seeking planning approval for four retail units, a Champagne bar, restaurant and gym across the basement and ground floor.
It is thought the building was sold for an undisclosed seven-figure sum to the new owners.
It also plans to turn the upper floors into 90 self contained apartments for rent.
The new development is expected to create 150 jobs during the build – and following its completion.
Vijay Patel of Aimrok said: “The purchase of this iconic building in Leicester is really important to us. It has a great deal of history and our plans will create an exciting concept for Leicester and will secure the building’s future. By creating a mixed use scheme, the building has a future which is sustainable for many years to come”.
The department store which sits on the corner of Market Street closed its doors to the public for the very last time in March this year.
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