Serving all-you-can-eat food, it will take over the former Red Hot World Buffet site in Manchester city centre which closed after the Bolton-based group went into administration last year.
COSMO will offer 160 dishes from around the world, including fresh sushi, a teppanyaki and robata grill and a Malaysian and Vietnamese section, as well as more familiar cuisines such as Chinese and Italian and an English carvery.
Diners can return to the eight live cooking stations to refill their plates as many times as they like for a set price, starting from £14.99 for dinner and £8.50 for lunch.
COSMO, which has 20 other branches across the UK, is spending more than £1m to turn the former Deansgate site into a flagship for the group, says the MEN.
Spread across three floors, the 25,000 sq ft restaurant will seat 350 diners in leather booths in an East-meets-West setting created by Robert Angell, who has previously designed restaurants for The Savoy, Gordon Ramsay and Marcus Wareing.
The top floor will be available to hire out for private parties and groups, with four separate areas including Chinese, Japanese and Italian-themed rooms.
COSMO commecial director Kan Koo told the newspaper: “When we opened our very first restaurant back in 2003 we revolutionised the idea of a buffet by offering freshly-cooked global cuisine in a sumptuous and elegant setting, for a great price.
“Since then we’ve launched 20 other venues around the UK and Ireland and we have learnt some valuable lessons along the way, watching many of our rivals fall to the wayside.
“Here in Manchester we have put all this knowledge into practice and plan to genuinely shake up the country’s restaurant scene once again.
“This is a wonderful location in a city that has become famous as an eating-out destination, so we are extremely proud to open what we believe will be one of the most innovative world buffet restaurants anywhere in the UK.
“We promise five-star dining for a fraction of the price and a restaurant which is architecturally inspiring and the future face of our brand.”