The venue is scheduled to reopen in May with the planned redevelopment set to bring the venue up to present-day standards.
An improved food and drink offering is on the cards alongside structural, technical and aesthetic improvements.
The venue has played host to a range of musicians including Lee Scratch Perry, D’Angelo, Lana Del Ray, Courtney Pine, Bobby Womack and Amy Winehouse.
Steve Ball, Director of The Columbo Group, said: “Many of us here at The Columbo Group have a personal history at The Jazz Café, its early days have fed into what we do at our other venues a great deal. What makes this purchase so special is that we now have the chance to channel that history in to taking The Jazz Café forward with a huge respect for the work they’ve done and for the greats that have played there we’re looking forward to taking this venue to the next level.
“There are elements of all aspects of The Jazz Café that we’re going to improve on taking from the experiences of our other venues including XOYO, whilst of course respecting the lineage of what The Jazz Café has come to represent.”