Criterion Capital has acquired One Princes Street in the City of London.
Located close to Bank Station and St Pauls Cathedral, the building joins others in Criterion’s rapidly expanding UK portfolio of Zedwell hotels. Just this year, the company has purchased 109-112 Princes Street in Edinburgh and secured £25 million in financing for an office to hotel conversion in Trafalgar Square.
The acquisition is the latest development in Criterion’s plan to grow its Zedwell portfolio and open 8,500 rooms by 2027 in central city locations including York, Manchester and Edinburgh. The company recently secured a £25 million investment facility from Cynergy Bank to aid the expansion of the sleep-focused hotel concept.
The Zedwell portfolio includes hotels in Park Lane and Greenwich as well as sites in Manchester and Edinburgh. The company also has 13 new sites in development.
What they said
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.”