Liverpool's derelict Royal Insurance building is to be refurbished under an £18m partnership between the city council and Ashall Property, paving the way for Starwood Hotels to launch its Aloft brand at the landmark property.

The building has been unoccupied for two decades and is on English Heritage's 'at risk' register.

The planned 116-room four-star Aloft hotel will feature the brand's signature high ceilings, oversized windows, platform beds and walk-in showers. Facilities will include a re:chargeSM fitness centre and re:fuelSM deli and café, as well as meeting spaces.

Ashall aims to begin work on the building in early May, completing work in late 2014, creating 150 construction jobs and 50 full time equivalents when the hotel opens.

As part of its City Centre Strategic Investment Framework Liverpool is working to rejuvenate its city centre and now only 4 per cent of the city's buildings are on the 'at risk' register, compared to 7 per cent nationally.

Liverpool mayor Joe Anderson said: "The Royal Insurance building is an important landmark in the heart of our city, with outstanding architectural and historical value.

"It has lain derelict for too long and we are determined to bring it back to meaningful use."