Whitbread has purchased 110 St Martins Lane, WC2, for around £21.7m, and will convert it into a Premier Inn.
The hotel and restaurant group has bought the 28,055 sq ft office building, where a number of leases will expire in 2013.
It is now drawing up plans to redevelop the property into a hotel.
The acquisition comes shortly after Premier Inn secured eight sites to create 340,000 sq ft of hotel and restaurant space, adding a total of 774 bedrooms to its portfolio.
Jones Lang LaSalle advised the vendor, LaSalle Investment Management; Mathias + Co represented the buyer.
joanna.bourke@estatesgazette.com
