The RO Group has confirmed the sale of its prominent Taunton Travelodge property. Located at the Riverside Retail Park, Hankridge Farm in Taunton, the hotel has been acquired by The Independent Order of Oddfellows Manchester Unity Friendly Society’s Unity United (Property) Investment Fund. The transaction was settled at £3.9 million, indicating a net initial yield of 6.375%.

Having been under the ownership of the RO Group for nearly ten years, the Travelodge has played a pivotal role in the commercial sector of the Somerset town. The hotel, purposefully constructed, boasts 64 spacious bedrooms and has recently seen an enhancement in its Energy Performance Regulation, now rated at EPC B. The strategic location of the Travelodge places it amidst a hub of retail, leisure, and office establishments, with notable neighbors such as B&Q, Hollywood Bowl, and Sainsbury’s.

The sale was facilitated with advisory services from BNP Real Estate and WBD, while Christopher Dee LLP represented the buyer. Edward Rowlandson, the Group Managing Director of RO Group, expressed his satisfaction with the sale, highlighting the hotel’s proximity to major airports in Bristol and Exeter. He also emphasized the potential benefits the property might reap from the upcoming Hinkley Point development, a significant infrastructure project in the UK.

The proceeds from this sale will be channelled into the RO Group’s core business activities, focusing on property asset identification, acquisition, development, and maintenance across southern UK. The group emphasizes the importance of reinvestment and asset upgrading, especially in the context of sustainability in the national economy.

The concept of sustainability has been gaining traction in recent years, especially in the construction and real estate sectors. As the world grapples with the challenges of climate change, there is an increasing emphasis on creating buildings and infrastructure that are not only functional and aesthetically pleasing but also environmentally friendly. This focus on sustainable construction is not just a trend; it’s a necessity. The importance of this approach is highlighted in events such as the “Tomorrow’s Net Zero” conference. Organized by  Built Environment Networking, this event brings together industry leaders, experts, and stakeholders to discuss the future of sustainable construction and the path to achieving net-zero emissions. The conference emphasizes the need for innovative solutions, collaboration, and a unified approach to tackle the environmental challenges of our time. By attending such events, professionals can gain insights, share knowledge, and collaborate on projects that prioritize sustainability and contribute to a greener future.