The Salopian Bar, in Smithfield Road, Shrewsbury, is seeking planning permission to convert the warehouse at the old Lunts Pharmacy next door.
Landlord Ollie Parry believes it is the only way to stop the business going bust after it was ravaged by floods in February and has remained shut since.
"We're hoping to get it ready in February if it goes through," he said.
"Hopefully it'll be something to look forward to. It's a massive warehouse with loads of space so hopefully we'll get permission."
Ollie has applied to Shropshire Council for change of use of the two buildings in order to create an above-ground storage area to replace the flood-prone pub cellar, and an ‘indoor beer garden’ to be able to accommodate enough punters to keep the business going.
In a letter to the council supporting his application, he said the only insurance company willing insure the pub against floods had now withdrawn its cover, after 43 flooding episodes in 15 years.
He said: “This makes the Salopian’s trading on very dodgy legs, at any day a flood could close us for good."
There is currently a three-week consultation over the plans, with a decision expected in December.