A Birmingham property group known for its work in the residential sector has acquired a hotel in the city to expand the hospitality arm of the business.
SevenCapital has bought the 186-bedroom Royal Angus in St Chads Queensway for an undisclosed fee.
The company said it planned to completely transform the hotel into a four-star luxury aparthotel building, with work set to start shortly and become completed in early 2022.
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SevenCapital was also behind the regeneration of the former Five Ways Shopping Centre and Auchinleck House in
It is best known in Birmingham for leading a string of residential projects including the conversion of the old Harrison Drape factory and the ongoing Connaught Square scheme, both in Digbeth.
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Group managing director Damien Siviter said: "The Royal Angus Hotel is a very exciting acquisition for SevenCapital that will allow us to expand our hotel ownership while helping to uphold and further boost the hospitality sector and create jobs within Birmingham.
"This will be especially important in helping to meet and alleviate demand ahead of the upcoming 2022 Commonwealth Games which will see unprecedented pressure and spotlight put on the city."
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Bal Sohal, chairman of SevenCapital Group added: "SevenCapital remains, first and foremost, committed to supporting and championing Birmingham, the home of our headquarters, as a truly world-class city.
"The Park Regis hotel has already proven a popular and successful brand with our existing hotel at Five Ways and we fully expect this to build on that success, helping to boost the local economy through tourism while creating much-needed, continual employment opportunities for the local community."