Liam, 41, and 46-year-old Noel had stopped talking to each other after their huge backstage fight in 2009. It had also led Noel to quit their band Oasis, in 2009, reported Daily Star.
However, the brothers reportedly reconciled at a wedding recently.
"Liam initially came up with the idea after a recent trip to Manchester with his mother Peggy. Then between them they thought Noel should also be brought on board," a source said.
"The brothers are thinking about an indie rock-themed place which serves artisan food," the source added.
"The brothers are consulting their famous friends such as Russell Brand and Holly Willoughby for advice on the venue. They reckon a hot new bar could bring them together again," the source added.
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