Sartorio Properties has applied to Southwark Council for planning permission to knock down the Gladstone pub in Lant Street and replace it with a 10-storey block of flats.
The history of the pub – which is well known as a music venue – goes back more than 130 years.
Formerly owned by Punch Taverns, the building changed hands in October 2014 in a £1.45 million deal.
Isle of Man-registered Sartorio Limited bought the pub with finance provided by Luxembourg's Aeriance Investments.
Designed by Black Architecture, the proposed new 10-storey building would be "constructed using off-site manufactured living pods which will be connected to a primary reinforced concrete core structure".
A restaurant or bar is proposed for the ground floor of the new building.
An archaeological assessment submitted with the planning application concludes that there is a "very high potential" for the discovery of Roman remains if the pub were to be demolished.
• See planning application 15/AP/3137
For the latest local news and events direct to your inbox every Monday, you need our weekly email newsletter SE1 Direct.
7,000+ locals read it every week. Can you afford to miss out?
Read the latest issue before signing up