David Arquette has bought a strip club for $1.5 million.

The 'Scream' star has closed a deal to purchase the famous Crazy Girls bar on Sunset Boulevard in Hollywood, Los Angeles.

According to TMZ, Arquette has been in negotiations with the previous owners for the last three weeks and although they wanted $1.7 million for the club he refused to up his price and eventually got it for $200,000 less.

Arquette owns the club and everything in it, including the poles, bars and furniture, however he intends to completely refurbish the venue.

The 42-year-old actor - who is engaged to Christina McLarty, with whom he has three-month-old son Charlie - wants to stage upmarket burlesque shows at the club and wants the theme to be old school Hollywood.

Arquette - who also has a 10-year-old daughter, Coco, with ex-wife Courteney Cox - is no stranger to night life businesses as he already owns Hollywood clubs Hooray Henry's and Bootsy Bellows.

Bootsy Bellows was named in honour of his late mother Brenda, a former burlesque star who used the moniker as her stage name, and the club is decorated with pictures of Brenda during her performing days.

Speaking about the photo tributes to his mother, the actor previously said: ''People are like, 'Dude, your mum is naked all over your club.' It was the '60s and New York. Later she went on to become a marriage and family counsellor. This is a way of honouring her youth.''