UK: Property investment company Criterion Capital has acquired One Princes Street, located in the City of London, for its Zedwell hotel brand.
One Princes Street is a Grade II-listed building constructed in 1931, originally designed by Edwin Cooper. It sits close to Bank Station as well as landmarks such as St Paul’s Cathedral, Leadenhall Market, and the Barbican Centre.
Zedwell plans to open 8,500 rooms by 2027, with upcoming locations including York, Manchester and Edinburgh.
Halima Aziz, head of hotels at Criterion Hospitality, said: “Acquiring One Princes Street marks a major step in the growth of our Zedwell brand. This prime destination blends history, commerce, and culture, perfectly aligning with our vision of providing serene, carbon-conscious spaces for rest. We’re excited to bring Zedwell’s transformative offering to one of London’s busiest districts, offering guests an unrivalled, rejuvenating experience.”
Last month, Criterion secured £25 million from Cynergy Bank to fund the expansion of Zedwell. There are currently three London hotels open in Piccadilly Circus, Greenwich and Tottenham Court Road.
Criterion Capital has more than £6 billion of assets under management. The company’s portfolio consists of 24 hotels with around 8,500 rooms across the UK, a residential portfolio comprising 4,020 apartments, and 30 commercial buildings in London.
