The former RADEA Club in Castle Street, Rugby, could be turned into a restaurant and apartments.
A planning application is in the process of being submitted to Rugby Borough Council and developer Kulwinder Bath hopes work will be completed by next summer if all goes well.
He said: “The ex-servicemen’s club is in the heart of Rugby town centre which makes it the perfect location for a new restaurant and four modern, spacious apartments.
“Rugby is a thriving town which is just a short train journey away from London, making it a suitable location not just for those who work in the town but also for commuters.”
He is pictured with Luke Hedderwick, from his advisers D&P Holt, who said: “It’s great to see buildings being brought back into use, and if planning permission is granted the ex-servicemen’s club will undergo a huge transformation.”