A Major hotel in York city centre has new owners.
Real estate investor, developer and asset manager Firethorn Trust has acquired the Malmaison Hotel in Rougier Street in an off-market deal.
Bought for an undisclosed sum, the 29,000 sq ft site is occupied by Malmaison under a 35-year lease, with a current rental income of £2.1m per annum.
The hotel, which opened in 2021 in the former Aviva building, has 150 bedrooms, plus a rooftop skybar.
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It features Malmaison’s ‘Work + Play’ facilities, with meeting pods, co-working areas, conference rooms and an events space for 180 guests, plus an on-site spa and gym. The hotel has since become one of the best performing sites within the wider Malmaison and Hotel Du Vin chain.
This is the latest addition to Firethorn’s rapidly growing Living portfolio, following recent acquisitions in London and Edinburgh.
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.”
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