Mayfair private members club Home House is understood to be close to a sale worth £25m.
A consortium of private bidders is believed to be in discussions with the club's holding company, Berkeley Adam, with a decision expected in the next few weeks.
Berkeley Adam's managing director and financial controller Stephen Winston said he did not want to comment.
Home House general manager Andrew Jamen said the property was not on the market.
The club's sister business, Scott's, is also thought to be close to completing a deal with luxury French hotel and restaurant group Costes. The French company made a £1.8m bid for the restaurant in February which was rejected (Caterer, 5 February, page 7).
Home House and Scott's were set up seven years ago by former director Brian Clivaz, who resigned in February, together with Neville Abraham and Laurence Issacson.