Millennium Copthorne poised to buy Chelsea hotel

Millennium & Copthorne Hotels said it will extend its global hotel portfolio with the acquisition of a new property in the Chelsea district of London for 65m pounds.The hotel is a luxury property that borders the River Thames and offers 154 suites and 4 penthouses. The primary lease to be acquired has a remaining term of approximately 98 years, the group explained.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." CJ