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UK: Serviced apartment operator Roomspace has been acquired by real estate investment and management company Tenigla Real Estate.
Tenigla, based in Madrid, Spain, owns and operates Cituspace – a flexible living and serviced apartment brand. Cituspace was formed when Tenigla acquired Roomspace’s Madrid business in 2023.
Now, with the purchase of its British parent company, Tenigla completes the integration of both companies.
Jaime Perinat, managing director of Tenigla, said: “Roomspace and Cituspace share the same approach to accommodation: looking after the guest in every detail. Bringing the two businesses together gives us a presence in Madrid and London, two of Europe’s leading markets, without losing what each team does best. For guests, suppliers and employees, day-to-day operations will remain exactly the same, now with a strong group behind them.
“Tenigla Real Estate clients will also benefit from a larger local team in London, enabling us to offer them a wider range of services and closer, hands-on support diversifying in the UK real estate market.”
Michael McDonnell, managing director of Roomspace, added: “With new buildings joining our portfolio in early 2027, there is plenty to look forward to as we begin this next chapter with Tenigla. I’m excited about the opportunities ahead and the wider choice we will be able to offer our clients and agency partners, supported by the same trusted, experienced Roomspace team and the personal service our partners and guests know us for.”
Following the sale, CEO of Roomspace Charlie McCrow will retire. He said: “My involvement in the sector over the years has been personally rewarding, and it has been fascinating to watch the serviced apartment industry grow and develop such a varied range of accommodation options.
“The team at Roomspace are exceptional, and I am proud of everything we have achieved together. I step away confident that they will flourish, continue to provide excellent service to our customers and contribute to Roomspace’s continued success under Tenigla Real Estate’s ownership.”
Highlights:
- Madrid-based Tenigla Real Estate has acquired British serviced apartment operator Roomspace to integrate its UK corporate housing operations.
- The transaction unifies Roomspace’s London properties with Tenigla’s Cituspace flexible living brand, following Tenigla’s earlier 2023 acquisition of Roomspace’s Madrid business.
- The combined business will expand its UK portfolio with new serviced apartment buildings scheduled to join the operation in early 2027.
- Following the corporate sale, long-standing Roomspace chief executive officer Charlie McCrow will retire from the business.
