The B Corp real estate company has secured a £41.8m loan for the property and its related net zero projects
B Corp real estate and development company Lamington Group is to open a net zero carbon hotel in York in spring 2027.
The £41.8m loan, secured through Coutts Commercial and law firm Freeths, will support the construction of the upcoming Room2 York hotel, while also contributing to Lamington’s broader pipeline of net zero projects.
The proposed 116-bedroom hotel in York marks Room2’s first entry into the north of England and will feature meeting spaces, a gym, guest laundry, and the Winnie’s café and bar once completed.
Solar panels, CO₂-controlled ventilation and reclaimed materials will also take centre stage at the new hotel.
Conceived by Lamington in 2015, the Room2 brand is positioned as a ‘hometel’, offering stays ranging from one night to a year. Most rooms are equipped with kitchens.
Lamington has aims to open 5,000 keys by 2030, with additional Room2 sites planned in Cambridge, Edinburgh, Manchester and London’s Shepherd’s Bush.
Stuart Godwin, managing director at Lamington Group, said: “As a B Corp, Lamington Group is very selective about its supply chain and partners, so it’s a great pleasure to be partnering with Coutts. This loan package will enable us to deliver the design-led, customer centric room2 ‘hometel’ in York, and allow for further sites to be brought into our net zero pipeline.”
Andrew Curtis, banking and finance partner at Freeths, added: “As a fellow B Corp, it gave us great pride to support Lamington Group in delivering a project that reflects our shared values of sustainability, innovation and social responsibility. Room2 York is a brilliant example of how the hospitality sector can lead the way in creating spaces that are not only commercially successful, but also environmentally conscious and community-focused.”
Room2’s hotel portfolio is currently spread across Belfast, Southampton, and London’s Hammersmith and Chiswick.
Its Chiswick site is believed to have been one of the world’s first fully net zero hotels at its launch in December 2021.