Hard Days Night hotel in Liverpool sells for £13.8m

The Hard Days Night hotel in Liverpool has sold for a higher-than-expected price of £13.8m.

Named after the Beatles album, song and film of the same name, the long lease of the 110-bedroom property was put on the market for £11m earlier this year.

International group Millennium & Copthorne Hotels has agreed to acquire the hotel on North Street for £13.8m in cash from property firm Concord Estates.

The Beatle- themed hotel, located in the Cavern Quarter of the city, opened in 2008 during the city's year as European Capital of Culture.

In a statement to the London Stock Exchange, Millennium & Copthorne confirmed that legal completion of the deal is expected by 19 August.

Millennium & Copthorne 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 hotel is housed in Grade-II-listed Central Buildings, which was designed by Thomas C Clarke and completed in 1884. It is the only Beatles-inspired hotel in the world and features a grand central staircase, stretching from the basement to the top floor, along which features numerous Beatles-themed images.

The hotel includes several bars and restaurants and is also used for conferences, meetings and events including weddings. Luxury rooms comprise the McCartney and Lennon suites.

The building was marketed by commercial property agents CBRE, with 113 years remaining on its lease with Liverpool City Council.

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