Chun Kong, owner of the Cantonese Mayflower restaurant in Cheltenham, plans to replicate its format in Cirencester on the site of the former Polo Canteen.
He bought the leasehold off a guide price of £195,000 from chef Paul Welch, who established the Polo Canteen brasserie in the affluent Cotswold town in 1996 but is now seeking a freehold site.
The Grade II-listed, three-storey building, which is constructed from Cotswold stone dates back to around 1650.
It incorporates a 75-seat restaurant on the ground floor, seven rooms and storage on two upper floors, and 13 off-road car parking spaces.
The sale was handled by the Bristol office Christie + Co.
By Angela Frewin