Criterion Capital acquires One Prices Street for Zedwell rollout

Criterion Capital has acquired One Princes Street, a historic site in the City of London, for the next step in the rapid rollout of its Zedwell hotel brand. 

The strategic purchase for an undisclosed sum will strengthen Criterion Capital’s vision to “redefine hospitality through sleep-centric hotel experiences”.

It comes as Zedwell aims to open 8,500 rooms by 2027 in central city locations, including York, Manchester and Edinburgh. 

The brand’s rooms – named ‘cocoons’ – are designed for “ultimate” relaxation, and feature soundproofed walls, purified air, body cushioning mattresses, and ambient lighting. 

One Princes Street, which was designed by Sir Edwin Cooper and constructed in 1931, is a Grade II-listed building that spans 79,077 sq ft and boasts a double-height banking hall with a domed ceiling. 

Criterion Capital expressed its intention to preserve the building’s rich heritage in its efforts to adapt it into a Zedwell hotel.

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.”

The property is in close proximity to Bank Station and landmarks like St Paul’s Cathedral, Leadenhall Market, and the Barbican Centre. 

Owning this corner of Bank Junction bolsters Criterion Capital’s portfolio, and supports “the revitalisation of the area and honours London’s architectural legacy”.