The bar on Houndsditch east London, which will continue to operate as Duke's Bar, becomes the group's sixth site and is expected to open before Christmas.
Leisure property consultants Selsian, responsible for sealing the deal, said the company, which specialises in cocktails, food and music, was planning to operate the ground floor of the site as a cocktail bar and gourmet pizza restaurant while the basement would be used for events and weekend club nights.
Along with Cargo, Shoreditch Bars Group operates The Shoreditch, Casa Blue and The Redchurch in east London and the Ballyhoo club in the West End.