MILLENNIUM & COPTHORNE ACQUIRES LIVERPOOL HOTEL

Millennium & Copthorne has signed an agreement to purchase the Beatles-themed Hard Days Night Hotel in Liverpool, northwest England, from Merseyside-based property entrepreneur Tony Criss for £13.8 million (£125,000 per room). The all-cash deal, which represents a yield of 6.5%, is expected to close on 19 August 2015. The 110-room hotel opened in 2008; it was developed in a Grade II-listed building dating from 1884, and 113 years remain on the lease with Liverpool City Council.

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