The Waterloo Hotel in Smethwick was opened by Mitchell’s and Butler in 1907 and today the Grade II listed building went under the hammer selling for £150,000.
The buyer Zafar Rashid, a solicitor from Perry Barr, already owns a similar property in Sheffield.
He says he is not yet sure what he will do with the place, but he is not worried about the cost of repairs.
"Obviously we factored that in to the price before bidding. I do love these old Victorian buildings for their character. I'm very pleased with the price," he said.