Beatles-inspired hotel bought for £13.8m

International hotel group Millennium & Copthorne Hotels (M&C) has announced that it has acquired a long-lease of the Hard Days Night hotel in Liverpool for £13.8m. 

The Beatles-inspired hotel, which takes its name from the Sixties band’s third studio album, is located on North John Street and has 110 bedrooms and suites, one restaurant, two bars and a variety of meeting and events spaces.

The fee paid for the property is higher than expected, after owner Tony Criss had reportedly put the hotel on the market for £11m in March this year.

In a statement to the London Stock Exchange, M&C said that it expects completion of the deal on, or before, August 19.

Chairman Kwek Leng Beng said: “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. The city is undergoing an economic regeneration and we are proud to be a part of that.”

The purchase of the property follows M&C’s recent first half results, in which the group reported a rise in profits before tax of 6.9% to £58m during the first half of 2015.