room2, the world’s first hometel brand, has completed the sale and leaseback of its flagship offering, room2 Southampton, to a fund managed by Aberdeen Standard Investments (“ASI”), the UK’s largest active asset manager.
The hometel concept, a sub sector of the extended stay space, is the brainchild of brothers Robert and Stuart Godwin, former members of the British Olympic Development Sailing Team. room2 was advised by Savills and ASI was advised by Knight Frank.
Constructed in 2018, room2 Southampton boasts 71 studio bedrooms each with its own kitchenette, an open plan ‘Living Room’ at ground floor including a café and cocktail bar providing all day dining, along with flexible meeting room and event spaces and a fitness studio. It occupies a prominent position in central Southampton, with spectacular views over Queens Park and the harbour.
James Dunne, Head of Transactions at Aberdeen Standard Investments, commented: “The room2 platform in the extended stay market has demonstrated its resilience through an unprecedented period of disruption. The ability to pivot between long and short stay augments the lean operational model without compromising on service.”