Boyd has set up Hamilton Boyd to manage the catering for the state rooms at the historic building near Trafalgar Square, where he has taken a 15-year lease.
He has named the venue, which comprises two ballrooms, seating 500 and 600 guests respectively, a salon seating 80 and 10 smaller rooms, Northumberland on Trafalgar.
The public brasserie and bar will be called Boyds and will open this November.
In addition, Hamilton Boyd will manage the meeting rooms for the Grand Hotel, which is the main occupier of the building.
This is an additional project for Boyd, who sold his company Chester Boyd to Charlton House for a sum believed to be over £5m in 2007, and he will continue in his role at the independent caterer.
Boyd, who described his investment in the new venture as "significant" predicted it would turn over £5m a year "quite quickly". He added that there were already three or four bookings worth £100,000 - and potentially a big event for August 2012.
Adrian Brain, commercial director at Chester Boyd, has also invested in the venture and will move over to Hamilton Boyd in a similar role.
By Kerstin Kühn
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