Sweden's Pandox, in partnership with Fattal Hotels Group, is buying the Midland Hotel in Manchester, U.K., for £115 million, according to The Times of London.

The 115-year-old asset is being sold by property investment company Aprirose.

The historic hotel is the site of a meeting that led to the founding of luxury car brand Rolls-Royce.

Pandox and Fattal previously teamed up to buy a portfolio of U.K. hotels for £800 million in 2017.