The 11-story new build will be located at the gateway to the Northern Quarter, renovating a former office and warehouse building that has been derelict for over a decade.
A Grade II listed building, the property will feature 150 rooms, a ground floor lounge bar, and a rooftop terrace.
Simon Doody, partner at FCBStudios, an architectural firm working on the development, said: “The corner site is long overdue for redevelopment and in a prominent position that requires a strong architectural presence.
“The vaulted archways wrapping around the building offer an honest representation of the repetitive nature of the hotel brief, resulting in a contextual and elegant façade design.”
Also included in the redevelopment proposals is the Piccadilly Tavern, which occupies the ground floor of the listed building.
The well-known establishment will be refurbished alongside the new four star hotel as part of a “transformation of the Piccadilly area”.