Investor and developer Firethorn Trust has purchased the Malmaison York hotel in an off-market deal.
The price of the hotel, which is under a 35-year lease, has not been disclosed. It has a rental income of £2.1million per annum.
Malmaison York on Rougier Street, within the historic walls of the city, has 150 rooms and is on a 29,000 square foot site.
The hotel underwent an extensive redevelopment in 2021, which included the addition of a rooftop skybar. It features a spa and gym and Malmaison’s Work + Play facilities, with meeting pods, co-working areas, conference rooms and also an events space for up to 180 guests.
Malmaison York has since become one of the best-performing sites within the Malmaison and Hotel Du Vin chain.
The hotel is within walking distance of York Minster, York Castle and the National Railway Museum.
Marcus Weeks, Director and Head of Living at Firethorn Trust, says: “Malmaison York is a high-quality asset that will perform well and create long-term value for us, whilst strengthening Firethorn’s presence in the living space.
“It’s a fantastic addition to our investment portfolio and complements our wider development strategy to deliver high-quality spaces in great locations that enable people and places to thrive.
“We have an appetite and ability to pursue opportunistic transactions, and look forward to continuing our growth within the living sector.”
Firethorn Trust was advised by Conway Real Estate, JLL and also Maples Teesdale.
Firethorn’s rapidly-growing Living portfolio recently acquired One Bessborough Gardens in Central London, which will be converted into around 60 modern apartments, and also a purpose-built student accommodation site at Leith Walk, Edinburgh.
