The property, in Birmingham's Central Business District, will be a conversion of the grade II-listed Louisa Ryland House, currently a disused office block.

The building is owned by Euro Property Investments. Its conversion would also include a restaurant, coffee shop and a fitness studio on the ground floor.

Guy Nixon, founder and chief executive of Native, said: "We are delighted to be breathing new life into one of Birmingham's most historic and beautiful buildings. Whilst respecting the rich heritage of the site, we will be instilling the quality and service that you would expect from a boutique four-star aparthotel from Native."

"Increasing numbers of business and leisure travellers are buying into the aparthotel concept, which provides the independence of apartment living with the service and flexibility of a hotel. We are pleased to be helping to meet this requirement in Birmingham, as one of the UK's most vibrant and economically important cities," he added.