The Scottish Mutual Building is a six storey Grade B1 Listed (HB Ref No: HB26/30/054) building located on the corner of Bedford Street and Donegall Square South. The building that previously occupied the Scottish Mutual Building was a three storey linen warehouse, dating to 1850 and was constructed on an area of land formerly known as ‘Mc Clean’s Fields’. 

The Scottish Mutual Building was designed by the local Belfast Architect, Henry Seaver. The building was designed and constructed as offices for the Scottish Temperance Assurance Society Limited which was founded by Adam Keir Rodger, Coalition Liberal MP for Rutherglen, Glasgow. It was constructed by James Henry & Sons between 1902 – 1904 at a cost of £40,000. 

In May 2013, The Scottish Mutual Building was purchased for around £2million by the Tullymore House hotel group, which owns Galgorm Resort and Spa in County Antrim. The building was sold by the Irish government's National Asset Management Agency (Nama).

In November 2013, Bedford Hotel Limited (Tullymore House Limited) submitted a planning application (Z/2013/1300/F) proposing the conversion of the existing Scottish Mutual Building into a Boutique Hotel comprising public bars, restaurants, function spaces, hotel bedrooms and loft apartments to include internal and external alterations. This application was approved in March 2014. The boutique hotel would be known as 'The Mutual' and would comprise two bars and two restaurants along with 10 serviced apartments in addition to the 40 bedrooms.

In April 2014, Bedford Hotel Limited submitted a planning application (Z/2014/0497/F) proposing realignment of junction to Donegall Square South and Bedford Street, repositioning of traffic lights and lamp posts and resurfacing. This application was approved in June 2014.

In March 2016, Bedford Hotel Limited submitted a planning application (LA04/2016/0688/F) proposing amendments to the previously approved application (Z/2013/1300/F). This application was approved in July 2017.

In 2017, Signature Living acquired the property for £6m and began work on transforming it into a hotel, to be named the George Best Hotel.

In December 2017, Signature Living submitted a planning application (LA04/2017/2745/F) proposing the conversion of the existing building to create a 63 no. bed hotel with ancillary function space, bars and restaurants and a single storey rear extension. This application was approved in March 2020.

Work was progressing on the George Best Hotel until about April 2020, when Signature Living went into administration. The building has since lain vacant and unfinished.

In June 2022, it was revealed that small investors in the George Best Hotel project could face losing all the money they invested after an application by the joint administrators to sell the building was granted by a judge.

In December 2022, it was announced that the Derry-based Martin Property Group had acquired the Scottish Mutual Building and confirmed plans to develop a new ‘high-end boutique hotel’.

In September 2023, a Proposal of Application Notice (LA04/2023/4100/PAN) was submitted proposing conversion of existing buildings into Hotel, comprising of public bars, restaurants, function spaces, hotel bedrooms, ground floor extension and interior and external alterations and all associated works.

The Martin Property Group submitted a full planning application in February 2024 (LA04/2024/0126/F) proposing conversion of existing buildings into a Hotel, comprising of 102 no. bedrooms.

In May 2024, Martin Property Group secured an agreement with the independent English operator, Focus, to launch a brand-new five-star hotel. The management contract for The Bedford Hotel, located in the Scottish Mutual Building, has been secured by Focus Hotels, with an anticipated opening in 2025.

On 18th March 2025, Belfast City Council's Planning Committee recommended The Bedford Hotel development located at the Scottish Mutual Building for approval.