A brace of Birmingham buildings which are set to be turned into a new hotel has been acquired.
MP DevCo, a joint venture between developers Regal Property Group and Trigram Properties, has bought the grade II* Murdoch Chambers and Pitman Building, in Corporation Street, from the city council.
The site has planning consent for a four-star hotel with 156 bedrooms, to include the restoration of the existing grade II façade and an 11-storey extension at the rear of the site.
Work is expected to start later this year and be completed in 2025 but no end operator has yet been announced.
Built in 1896, the Murdoch and Pitman buildings housed a hotel and a vegetarian restaurant, believed to be Britain's first, where it is claimed Indian independence campaigner Mahatma Gandhi once dined.
The Pitman building was named after Sir Isaac Pitman, the creator of the eponymous shorthand system, and vice-president of the Vegetarian Society at the time.
Both buildings were designed by Joseph Crouch and Edmund Butler to house furnishers AR Dean and Pitman's Birmingham Vegetarian Hotel and Restaurant.
Regal Property director Mark Holbeche said: "Corporation Street was historically one of Birmingham's most prestigious streets. It is home to several Victorian buildings, including the Victoria Law Courts and the Methodist Central Hall, with the latter also to be repurposed as a hotel.
"Our scheme will help to regenerate this historic area of the city as well as delivering much needed new hotel beds."
This latest project comes as Henley-in-Arden firm Regal Property submits plans to build a 47-storey residential tower at 90-97 Broad Street in the city, near to another of its residential projects, The Bank, which completed in 2020.
It is also leading the development of the 30-storey 'South Central' scheme at the corner of Essex Street and the A38 Bristol Street which is due for completion next year.
Birmingham-based Trigram Properties works in development and consultancy and its previous projects include the 48-acre Drayton Manor Business Park in Tamworth and the 18-storey Birmingham One student residential tower in Bristol Road, Birmingham.
The purchase of Murdoch Chambers and Pitman Building was backed by a £4.5 million loan from The Harrogate Group.
Chief executive Faisal Arif said: "We were impressed with MP DevCo's plans for the Murdoch and Pitman site and with their track record of delivery.
"It's great to be able to provide the finance to kick start the restoration of these historically significant buildings and we look forward to working with MP DevCo on the development funding for the scheme."
