Firethorn Trust has acquired the boutique Malmaison York hotel in an off-market deal for an undisclosed sum.
The 29,000 sq ft hotel, which is situated on Rougier Street, within the historic walls of the city, is occupied by Malmaison on a 35-year lease and generates a current rental income of £2.1m per annum.
Following an extensive redevelopment in 2021, the 150-room hotel now boasts a rooftop sky bar offering panoramic views of the city. The hotel also features a spa and gym, meeting pods, co-working areas, conference rooms and an events space that can cater for up to 180 people.
Marcus Weeks, director and head of living at Firethorn Trust, said: “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 Maples Teesdale.
