The first phase of the Grade II* listed red brick and terracotta building was designed for the Refuge Assurance Company by Alfred Waterhouse and built between 1891 and 1895.

[6] After occupying the building as offices for nearly a century, the Refuge Assurance Company moved to the grounds of Fulshaw Hall, Cheshire, on 6 November 1987.

The Refuge Assurance Company had discussed converting the building into a new home for the Hallé Orchestra with one of Manchester's cultural patrons Sir Bob Scott for over a year.

[7] Local architecture critic John Parkinson-Bailey noted that "one of the most prestigious and expensive buildings in Manchester lay forlorn and empty except for a caretaker and the ghost on its staircase".

[12] The current glass dome in the reception area was taken from a Scottish railway station during the conversion to a hotel.