We've bought a Graco Coutour Electra Travel Cot
http://www.graco.co.uk/en_GB/product/9D99/008/
We're going to use that in the bedroom for the first few months as it has a bassinet that can be used for newborns. They also sell it in the petite version too if space is tight
I didn't want to spend money on items that would only get a few months use and when LO goes into his own room into a cotbed, we'll use the travel cot for when we go and stay with friends / family or as a playpen (if we need to).
xx