CDL Hospitality Buys Hotel in Manchester, UK

News about CDL Hospitality Trusts

CDL Hospitality Trust is announcing the acquisition of Hotel Brooklyn in Manchester, UK. The leasehold property (with about 196 years remaining) is a 4 stars hotel with 189 rooms, and has an NPI yield of 7.4%.

The total acquisition cost of £24.1 million (about S$43.8 million) will push the trust gearing to 40.0% and is expected to be DPU accretive.

CDL Hospitality Trusts
Price1.290 SGD
NAV1.330 SGD
Yield (4 quarters)3.32%
Gearing39.8%