UK: Real estate owner and operator Criterion Capital has secured a £25 development loan from Cynergy Bank to fund the expansion of its Zedwell brand.
Zedwell first launched in London in 2020, debuting “cocoon” style guest rooms designed to enhance sleep. Each room has soundproofed walls, floors and doors, Hypnos mattresses, purified air and circadian lighting.
There are currently three London hotels open in Piccadilly Circus, Greenwich and Tottenham Court Road, with additional sites signed in York, Manchester and Edinburgh.
In total, there are 13 properties in development with the aim to expand the Zedwell portfolio to 8,000 rooms by 2027.
Omar Aziz, director at Criterion Capital, said: “This £25 million equity release is pivotal in accelerating the Zedwell brand’s UK-wide expansion. Working with Nishil and the Cynergy Bank team has been a pleasure. Thank you also to Vijay Parikh and the Harold Benjamin team for representing us. We are looking forward to turning prime sites in cities across the UK into vibrant and thriving hospitality assets.”
Nishil Tanna, relationship director at Cynergy Bank, added: “We are excited to partner with Criterion Capital on this transformative journey. Their vision for Zedwell aligns perfectly with our commitment to supporting growth and we look forward to seeing their continued success as they bring Zedwell to some of the UK’s most iconic locations.”
