It’s been revealed that Yorkshire House, an iconic building in the centre of York, is to become part of the boutique hotel portfolio, Malmaison.
Now the plans submitted by Harrogate-based property business Yorkshire Ventures have been given the go ahead, the office block, which was once home to insurance company Aviva, will be transformed into a 124-bedroom Malmaison boutique and become the 16th property under the boutique name in the UK.
The plans also include the creation of 49 serviced suites and once opened, will join Malmaison’s sister property, Hotel du Vin York in the city.
Richard Jackson is the chairman of Yorkshire Ventures, the development company behind the plans.
He said: “We’re delighted to announce our plans to transform Yorkshire House into a stylish new city centre hotel and are thrilled that Malmaison will be the operator.
“The proposals will deliver a significant boost to the city’s economy and could create between 80 and 90 new employment opportunities once the hotel is operational, plus additional construction jobs during the conversion of the building. Significantly, the plans will also breathe new life into an important gateway site into the city centre.”
The deal was done by global private equity and alternative asset investment firm, H.I.G Capital, as York Ventures is one of its affiliates. The company completed a structured debt investment to assist York Ventures in acquiring the freehold interest in Yorkshire House.