The pub would open on the former Poundland site in The Square – which has been closed an unoccupied since January 2020 - with J D Wetherspoon set to invest £2 million on the premises.
The pub is expected to create 60 jobs in Kenilworth if it opens.
Wetherspoon spokesman Eddie Gershon said: “We are delighted to have purchased the site.
“We have enjoyed great success in the region and hope that our investment will act as a catalyst for other businesses to invest in Kenilworth.”
The pub would occupy all of the ground and first floor of the building, comprising 5,500 sq ft on each floor.
Details of the plans - which are for a change of use of the site from retail to public house/restaurant with some alterations and renovations included – can be found on Warwick District Council’s online planning portal here https://bit.ly/3pG0Wfr
Responses to the proposals can also be made through the website.
So far, two residents have objected to the plans.
Wetherspoon’s purchase of the site was overseen by Leamington-based property consultants Wareing & Company.
Bill Wareing, of Wareing & Company, said: “It is great to see a major national name like Wetherspoon investing in the heart of Kenilworth by purchasing this building.
"It is a great location in the heart of the town with public car parks close by.
“Kenilworth still achieves a good level of town centre footfall compared to towns of similar sizes and this has proved attractive to Wetherspoon.
"This deal shows confidence in the high street post-Covid, and we are looking forward to seeing this enterprise open and attract more people to Kenilworth town centre.”