Current Cardigan Arms owners Greene King agreed to sell to Kirkstall Brewery last month after rejecting a bid from not-for-profit The Cardigan Arms Communities Pub Ltd.
The community group raised £130,000 in a community share offer and were confident of meeting the £295,000 asking price with help from business partner, Leeds pub company Mood.
Kirkstall Brewery managing director Steve Holt said the sale is still going through the legal process.
He said: “We should complete the purchase by the end of July at which time it will close for ‘light’ refurbishment and re-open in September.
“A new kitchen, upgraded toilet facilities and a full refurbishment of the upper floors will be included in phase two when most of the major works and the main part of the refurbishment programme will take place.
“This will be later in the year subject to planning approval and listed building consent.
He added: “The Cardigan is one of the few remaining examples of a Victorian multi-roomed public house and retains most of the original internal walls, fixtures and fittings.
“This presents an exciting and almost unique opportunity to restore it to its former glory through sympathetic restoration and the addition of original pub memorabilia, lighting and furnishings from the Victorian/Edwardian era.
“As it is rightly a Grade II listed building, this will be done in close consultation with the planning department and the local community.”
The Cardigan Arms, which was built in 1896, is one of the UK’s top 250 heritage pubs.