The Bank of London and The Middle East plc (BLME) has granted Criterion Capital a £25 million investment facility to support the conversion of an office building into a hotel at the renowned Trafalgar Square in London. The funding will be used for transforming the historic Trafalgar Buildings, constructed between 1881 and 1882, into the Zedwell Trafalgar Square Hotel.

This redevelopment project aims to enhance Criterion Capital’s Zedwell hotel brand, known for its sleep-focused concept. The new Zedwell Trafalgar Square will feature “cocoons” with noise-reducing walls and ambient lighting to offer guests a restful retreat amidst the vibrant city environment. The hotel is part of Criterion’s broader strategy to expand their brand across the UK and integrate modern amenities into historic structures.

Trafalgar Buildings, an iconic structure serving as a gateway from Trafalgar Square to Northumberland Avenue, will undergo this major renovation while preserving its historical charm. The location, a top global tourist attraction drawing over 15 million visitors each year, underscores the project’s significance. Criterion Capital is committed to maintaining the building’s legacy while adapting it for contemporary use, aligning with their dedication to preserving London’s architectural heritage. This effort mirrors current trends in the property construction conference and real estate networking event sectors, which highlight sustainable urban development.

BLME’s investment reflects Criterion’s wider goal of revitalising outdated buildings, transforming them into affordable residential spaces and lifestyle hotels with minimal environmental impact. This development aligns with recent trends in construction investment and infrastructure projects and highlights the ongoing growth within London’s property market.

Henry Wilson-Holt, Associate Director of Real Estate Finance at BLME, expressed enthusiasm for the project, stating: “We are excited to support Criterion Capital in this transformative project, which aligns with our shared vision of sustainable development and urban revitalisation. We look forward to continuing our partnership and providing financing for high-profile assets like this one.”

Omar Aziz, Director at Criterion Capital, praised the collaboration with BLME: “The experience of working with BLME has been seamless; their expertise and commitment have been instrumental in realising our vision. The transformation of Trafalgar Buildings into Zedwell Trafalgar Square represents a key milestone in our UK expansion strategy. This project not only supports local employment but also contributes positively to the community and enhances our commitment to sustainable tourism.”

BLME’s recent research highlights a surge in Gulf Cooperation Council (GCC) investment in the UK commercial real estate market, forecasting annual investments exceeding $4 billion, driven by lower interest rates and enhanced political stability. The findings also underline the increasing relevance of property construction networking events as platforms for fostering business development and investment opportunities.

For more details on the UK’s leading real estate and property festival, visit https://www.ukreiif.com/ukreiif-2025/