Northern Ireland-based developer Tara House has been granted planning consent to build two hotels and post-graduate accommodation in the university district of Liverpool.
The company said 'a major international hotel operator' will run both hotels and would be announced next month.
Liverpool-based architects Falconer Chester Hall have designed one 140-bedroom three-star hotel and another of 130 bedrooms as a budget hotel. There will also be 113 post-graduate studio units and a basement car park with 247 spaces.
Simon Murray Twinn, managing director of Tara House, said: "We are very excited about our scheme which should help to promote further regeneration in this important and strategic city centre location. The mixed uses will bring vibrancy and life to the Oldham Street area whilst creating jobs and giving a boost to the local economy."
Mark Doohan of Falconer Chester Hall said: "The design unifies the broad mix of uses and creates a family of buildings and a dynamic city, street and roofscape. A two tone mix of high quality cladding materials subtly subdivides the facades and gives the building a unique appearance which is striking in this context."
Work is expected to start on site in the third quarter of 2010 with the first phase expected to be completed in the third quarter of 2011, and the rest of the development early in 2012.