Singapore investor buys four-star hotel in Manchester, U.K.

M&C REIT Management Limited, as manager of CDL Hospitality Real Estate Investment Trust, announced that CDL HREIT Investments will be entering into a share purchase agreement regarding Hotel Brooklyn, a four-star hotel in Manchester in the United Kingdom, for £24.1 million (€28.9 million/$32.8 million).

The property is currently owned by Roundapple Hotel Partners III Ltd. Upon completion of the acquisition, the company will continue to hold the property.

As the landlord, Roundapple Hotel Partners III currently leases out the whole of the property to HLD (Manchester) Limited as the tenant.

The hotel began operations in February 2020. More than 189 rooms make up the establishment, along with two food and beverage outlets and three meeting rooms. The building also contains a casino, accompanied by a restaurant and bar.