Oakman Inns & Restaurants has completed the £1.5m purchase of the freehold of Westlands House, a former care home in Olney, Buckinghamshire.
The new inn and restaurant will, if granted planning permission, be called The Cherry Tree after Olney's June Cherry Fair.
Based at 3 High Street, the building's original address was in fact 13 Market Place and was the home of the Hipwell family, the local Brewers and pub landlords, who lived there for almost a century.
It will be Oakman Inns' 18th site, creating 40 jobs in the area. The group is hoping to reach 22 by June next year.
Chief executive, Peter Borg-Neal said: "I have long been an admirer of Olney and have always wanted to have an Oakman Inn in the town. We like this part of the world, and the runaway success of the Navigation Inn at Cosgrove has provided further encouragement. We're always looking to continue to grow our reputation for providing a modern, relaxing atmosphere and a welcoming environment."
Borg-Neal and his Oakman design team plan to put their proposed plans on display in a week-long exhibition where the local community can ask questions, see the proposed plans, get a feel for the design materials and express their views on the proposed project.
Borg-Neal said: "We're known and recognised for the design work and commitment we make on maintaining our portfolio of listed buildings, while at the same time making them warmer, lighter, airier, cleaner and openhearted. The towns we serve all have this sense of history, but they also embrace the changes needed to thrive and prosper."
Following the acquisition of Banyers House in Royston (which opens on 2 December) the Olney site brings the number of properties across the Oakman group up to 18. Contracts have already been exchanged on a site in Amersham and Oakman are in advanced negotiations on a number of other sites.
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