Taj Bola made the announcement this week after sealing the deal with East Lindsey District Council.
The local entrepreneur, who also announced the new ice bar at the Hive nightclub complex on the seafront would be opening soon, said he was delighted “to acquire an important piece of Skegness history”.
The Grade 11 listed town hall and residential dwelling The Lodge went on the market in February listed for offers of more than £600,000.
it has been showcased by Lambert Smith Hampton as the vendor’s sole agents.
Taj Bola, who also owns The Royal Hotel in Skegness, said, “I am very pleased with the acquisition of this important piece of Skegness history.
"I am unable to disclose too much at this stage, other than to say that this forms part of my long-term strategy of developing visitor attractions and experiences along the entire length of the sea front, from North Parade all the way to Princes Parade.
“Skegness is a great resort and has great potential for the future.
"East Lindsey District Council have shown great commitment to Skegness with the modernisation and development of key amenities, it is now up to businesses to show the same vision and commitment.”
Coun Richard Fry, Portfolio Holder for Finance at East Lindsey District Council said, “We are pleased the Town Hall has received a successful bid.
A local night club and hotel owner is the new owner of Skegness Town Hall.
"It is an extraordinary building with a fantastic coastal location.
"We look forward to seeing the property in full use again and wish Mr Bola well in his future endeavours”.
It is expected the new Ice Experience at Sky Pier at The Hive will be open by the summer holidays.
It will feature minus 20℃ temperatures and be an adventure for all the family.
Following the closure of the The Ice Experience in London, the attraction is likely be the only one in the UK and one of just seven across Europe.
It had been hoped the bar would be open at Easter but Mr Bola told our newspaper that the impact of the pandemic had delayed construction.