Firethorn Trust has purchased boutique hotel Malmaision York in an off-market deal.
Located on Rougier Street, the hotel underwent an extensive redevelopment in 2021 and now comprises 150 rooms, a rooftop skybar, meeting & conference facilities, co-working space as well as an onsite spa and gym.
This marks the latest addition to Firethorn’s Living portfolio, following its recent acquisitions of One Bessborough Gardens in Central London which plans to convert into a collection of around 60 apartments, and a purpose-built student accommodation site at Leith Walk in Edinburgh.
Firethorn Trust was advised by Conway Real Estate, JLL and Maples Teesdale.
Ownership history
The building that now hoses the hotel was previously known as Yorkshire House, and was previously home to insurance company Aviva. It was sold to Lothbury IM by H.I.G. Capital for an estimated $61.6 million in April 2018, according to MSCI Real Capital Analytics.
What they said
Marcus Weeks, director & 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.”