Permission from Melton Borough Council to change the use of the historic Thorpe End building is being sought to safeguard its commercial viability in the town centre.
It closed recently as a members-only Conservative Club, which it has been used for since 1904, because it was struggling to make money.
JRJ Developments, the applicant, says it does not intend to make alterations to either the inside or the outside of the property if the venture is given the go-ahead.
It says in the application that the building would be better used by taking away the requirement for people using it to be members.
A covering letter from charterered town planning consultants, Aitchison Raffety, states: “In terms of the impact of the proposal, the building has been used as a Conservative Club for over 100 years.
“It has recently closed after running for a number of years at a loss (even pre-Covid 19 times).
“It is therefore no longer required as a Members Only drinking establishment, with function rooms for hire by the public.”
The building currently contains a lounge bar area within the front part of the building, with the bar separating it from a rear ground floor function room.
There is a second function room on the first floor with a snooker room to the rear.
The applicant wants to maximise space to allow more functions to be held within the premises.
The covering letter with the application adds: “This change of use will seek to secure the same use of all of the spaces, except for its ability for
all of the building to be used by members of the public.
“This will broaden its potential level of customers thus securing its long-term future as a commercial venture.
“It provides a range of spaces within the building which can be used for private hire functions without any changes to the building or its apparent operation.
“Securing its use for the public is a benefit to the community and vibrancy of Melton Town Centre compared to it standing vacant.”