EasyHotel has acquired Bradley House in Manchester, for conversion into a 114-bedroom budget hotel.
Total cost of the purchase and the conversion of the grade two-listed building is around £6m.
EasyHotel is part of the budget hotel chain founded by easyJet tycoon Stelios Haji-Ioannou.
The purchase of the property at the junction of Dale Street and Newton Street is subject to easyHotel obtaining planning consent for a hotel.
In April easyHotel acquired its first building in the North West, 47 Castle Street, a four-storey office in Liverpool city centre which is due to be converted to provide 68-bedrooms.
The Bradley House hotel is due to open in summer 2016.
Simon Champion, chief executive officer, said: “Manchester has substantial international tourism, good economic growth potential, a large population and successful, internationally-renowned universities. We expect this new easyHotel to attract a variety of leisure and business customers looking for good quality accommodation at an affordable price and look forward to being a part of the city’s ongoing success.”