Businessman Hugh O'Regan has submitted plans to Dublin City Council to revamp the former Hibernian United Services Club at 8 St Stephen's Green in Dublin 2 and turn it into an exclusive venue for young professionals.

O'Regan's company, Clubko Ltd, bought the large Georgian premises for over €10 million.

While many of the members of the Hibernian United Services club were in their 70s and 80s, the new club will target a much younger age group, mainly those between 23 to 45. The aim is to offer business people a dedicated venue and an alternative to pubs to meet and talk shop.

If O'Regan gets planning permission, work to the club, which is a protected building, will involve a new restaurant in the basement along with a new kitchen and toilets.

He is also looking to build a new zinc-clad conservatory to the rear above an existing 19th century reception room and make alterations to a modern annex on Anne's Lane. The service ducts will be taken out, and a new glazed link built at ground and first floor level. A memorial plaque in entrance hall will be taken out and the club will get a new billiard room. The renovation will also include the part restoration of original room plans on the second and third floors .

It is thought that the club will have up to 1,000 members who will pay an annual subscription. The subscription in the 171-year-old United Service Club was €952 - but the club lost members when it imposed a mandatory levy of €570 to put its finances on a sound footing.

The emphasis will switch to dynamic business breakfasts and work-outs in a new basement gymnasium.There will be a bar and restaurant for movers and shakers, and the menu will feature café-style food rather than the traditional roast beef and bacon and cabbage lunches that the old club was noted for.