Property developer Dominvs Group has acquired the site and plans to build both a four-star and a three-star hotel, totalling 251 bedrooms.
Total development is valued at £30m.
“The Aberdeen market has been in our sights since our company’s inception” said Preet Ahluwalia, director of Dominvs Hospitality, the group’s hotel division. “The location, size and potential of this site could not be more ideal, we as a company cannot wait to begin work on this project”.
The hotels are set to open in late 2016, according to the developer’s timetable.
Dominvs Group was set up by Sukhpal Singh Ahluwalia after he sold Euro Car Parts for £285m in 2011.