Private equity company Henley Real Estate has been selected to develop a 60-bedroom boutique hotel overlooking the historic Plymouth Hoe in the Devon city.
Plymouth City Council appointed the company after acquiring a 0.9 hectare site, previously occupied by a now demolished, derelict hotel, in 2015.
Set to open in 2019, the hotel will be named 1620 to commemorate the sailing of The Mayflower from Plymouth, which will celebrate the 400th anniversary of the voyage in 2020. It will feature a fine-dining restaurant, spa, gym, conference rooms and a panoramic penthouse with views over Plymouth Sound.
The development will include a separate tower, comprising 80 apartments. Both the hotel and apartments will be independently operated by Henley Real Estate.
Plymouth City Council leader Ian Bowyer, said: "To have acquired the site, demolished an eye sore building and attract a new exciting development in less than 12 months just shows what can be done with a bit of drive and courage.
"We took a bold and proactive approach and it is paying off. Not only will this development deliver more high quality hotel rooms in time for Mayflower 400, it helps the city up its game as a year-round destination."
John Henley, Co-founder and director of Henley Real Estate, added: "We have already received enormous interest in our plans for this site and we look forward to engaging with both the community and businesses of Plymouth as we are confident this is a scheme that the city will be proud of for decades to come."
Specialist hotel real estate group JLL, who was appointed by the council to market the site, said that it received a lot of interest from developers who recognised the opportunity "to capitalise on the heritage, culture and natural beauty of the city".
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