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London-listed City Developments (CDL) subsidiary Millenium & Copthorne (M&C) on Tuesday (12 August) announced it has agreed to acquire a long leasehold interest in Beatles-inspired Hard Day’s Night Hotel in Liverpool for £13.8 million (S$30.1 million) in cash, the company said in an SGX filing.
“This unique acquisition, which will be supported by M&C’s existing management infrastructure, further expands the Group’s hotel portfolio to one of the leading leisure and business destinations in the UK,” said M&C’s Board of Directors Chairman Kwek Leng Beng.
The 110-room hotel has over 113 years remaining lease with the Liverpool City Council. The acquisition is expected to be completed by 19 August.
Singapore-listed CDL and its hotel arm M&C are members of the Hong Leong Group of companies.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg