The firmed secured planning for the 107-room hotel and 85 apartments in June last year.
This morning the developer confirmed a pre-let to Premier Inn allowing construction to start on the site of the former Wessex Hotel in the West Cliff area of Bournemouth.
Construction of the basement car park for both the new hotel and apartments will start in September. The project will be delivered across three blocks with the hotel designed in an art deco style.
Inland Homes said the scheme was a partial restoration of the site to its appearance at the start of the previous century, when it hosted three villas on separate plots.
Stephen Wicks, CEO of Inland Homes, said: “On the Wessex site in Bournemouth, we were pleased to have secured a pre-let to a strong covenant, which has delivered significant capital value uplift. Inland has a growing reputation as a highly experienced mixed-use developer and this project is a clear demonstration of these credentials.”
This morning it also confirmed it had sold phase two of its planned prime waterside Sherborne Wharf project in Birmingham to Crest Nicholson, for £4.3m.
Acquired during the 2016 financial year, Inland has consent for 233 homes, comprising the first two phases of the development.
Crest Nicholson has acquired a 1.0 acre site, with detailed planning for the development of 87 residential units. The sale is the second at the site following the sale of phase one of the project, comprising 146 consented units, also to Crest Nicholson, in December 2017.