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UK: Real estate investor and developer Lamington Group has secured a £19 million loan from lenders Coutts and Natwest to fund the expansion of its room2 brand in York and future pipeline.
The room2 York site marks the first in the North of England for Lamington. Due to open in spring 2027, it is set to feature 116 rooms, meeting space, a laundry room, a gym, and Winnie’s cafe and bar.
The £19 million will support the construction of room2 York as well as refinance and strategically release equity to fund future growth opportunities.
Stuart Godwin, managing director, Lamington Group, said: “As a B Corp, Lamington Group is very selective about its supply chain and partners, so it is a great pleasure to be partnering with Coutts. This loan package will deliver the design-led, customer-centric product room2 Hometel in York and enable further sites to be brought into our net-zero pipeline.”
Robert Souter, director at Coutts Commercial, added: “We are delighted to support Lamington Group as they continue to expand the room2 hometel brand with a green development loan for their new site in York, especially in light of their commitment to high social and environmental standards.”
Currently, there are four operational room2 sites: Southampton, Hammersmith, Chiswick, and Belfast. Additional planned cities include Glasgow, Manchester, Leeds, Edinburgh, and Cambridge.
Highlights:
- Lamington Group has secured a £19 million loan from Coutts and NatWest to fund room2 York and future projects.
- room2 York, opening spring 2027, will include 116 rooms, a gym, meeting space, and Winnie’s café and bar.
- The development marks room2’s first location in Northern England.
- The loan supports construction, refinancing, and equity release for further net-zero developments.
- Lamington currently operates four room2 hometels and has additional UK sites in development.
