Millennium and Copthorne to buy Chelsea Harbour hotel for £65m

Millennium and Copthorne hotels has announced plans to purchase a 158-bedroom hotel on Chelsea Harbour for £65m.

The hotel on the River Thames is being acquired from Harcourt Developments, an Ireland-based property development firm.

It is described as being a luxury property with 154 suites and four penthouses.

Millennium and Copthorme will pay £65m for the hotel, subject to adjustments. The deal is expected to be completed during the first quarter of 2014.

Millennium and Copthorme chairman Kwek Leng Beng said: "We are delighted to be acquiring this property which will fit very efficiently into our existing portfolio of London properties.

The Chelsea Harbour is one of the few hotels in the city to offer all-suite guest accommodation and is situated in a prestigious riverside area that will be going through further transformation and improvement in the near future."

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