The owners of The Pour House in Frankwell announced last week that they were moving on and a new owner had now been found.
The management of Albert's Shed, which is based on Barker Street, will take over the bar and promises to keep trading as a cocktail bar when it reopens on Friday.
The launch party is on August 9 with Mighty Vipers. The following day The Uptown Monotones will be performing.
Over the launch weekend, staff at the bar will be raising money for The Harry Johnson Trust which provides funding and equipment for both families and the Princess Royal Hospital Telford's Oncology Department.
David Gregg, manager director at Albert's Shed, said: "The Pour House is very much loved cocktail bar/cafe in Shrewsbury. It's a place where people can enjoy a unique experience, be that enjoying a sophisticated cocktail, enjoying a milkshake with, or without their kids, as well as a place to take a welcome rest after a dog walk. And now we're adding more ale, craft and cider options to give even more choice."