Firethorn Trust, a UK-based real estate investor and developer, has secured an £18 million financing package from Grosvenor to support its acquisition of the Malmaison York hotel. Firethorn, which purchased the luxury 150-room hotel in June 2024, aims to enhance its growing Firethorn Living portfolio with this prominent city-centre property.

The Malmaison York features a rooftop sky bar with sweeping views over York, state-of-the-art ‘Work + Play’ business facilities, and a spa and gym, making it a standout performer within the Malmaison and Hotel Du Vin group. The financing aligns with Firethorn’s strategy of securing quality assets in prime locations, and it marks Grosvenor’s first foray into investment loans, expanding its existing portfolio.

Richard Whitby, Chief Financial Officer of Firethorn Trust, praised Grosvenor’s confidence in the project, emphasising the strength of the hotel’s location and operator. He noted that the partnership supports Firethorn’s continued growth in the UK market, which also includes purpose-built student accommodation (PBSA) projects and a conversion scheme in central London.

Steph Ball, Investment Director at Grosvenor, highlighted the deal’s alignment with Grosvenor’s strategy to diversify through high-quality assets with strong operators. She added that this first investment loan reflects Grosvenor’s adaptability in an evolving market and anticipates long-term success in collaboration with Firethorn.

Firethorn Trust received advisory support from JLL and Maples Teesdale, while Grosvenor was advised by CBRE Lending and Freeths.

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