The building was formerly the North Western Hotel. It is located next to Liverpool Lime Street Station and opposite St George's Hall.
The North Western Hotel opened in 1871 and is constructed in stone with a slate roof in the Renaissance Revival style, resembling a French château.
The railway hotel closed back in 1933 and the building has been used as office accommodation and as student accommodation ever since.
A proposed £30million refurbishment project would totally transform the building. A 202-bedroom hotel with a bar and restaurant facilities, gym and meeting spaces is planned.
An international operator has also been lined up to operate the new hotel which has an expected opening date of 2020.