Investment: London Criterion Capital acquires world’s first YMCA to revitalise this historic London landmark December 4th, 2024 Deividas Krupstas Criterion Capital has announced the acquisition of the world’s first YMCA on Tottenham Court Road in London. This iconic building, a cornerstone of the Fitzrovia community for almost 50 years, represents a unique piece of cultural heritage.Criterion Capital’s acquisition was initiated by Central YMCA, who sought Criterion’s economic support in addressing escalating challenges. As longstanding neighbours in the community with a strong working relationship, we were a natural partner in navigating this transition.Faced with declining membership, rising operational costs, and increased competition, the YMCA determined that divestment was the best way to advance their charitable mission and reinvest in areas of greater need. As a multigenerational, multicultural, and inclusive organisation with deep expertise in placemaking and sustainable development, we were honoured to take on the stewardship of this landmark.Omar Aziz, Criterion Capital, said: “This acquisition is a partnership founded on trust and mutual respect. From the beginning, our shared vision with Central YMCA has been to recognise the importance of this historic site, while transforming it into an economically viable and vibrant space that meets the needs of future generations, ensuring it remains relevant and meaningful to contemporary needs.”In collaboration with local organisations and stakeholders, including the Bloomsbury Residents’ Action Group, the Fitzrovia Partnership, and Camden Council, Criterion will shape the next chapter of this building.Criterion is also working with Central YMCA to safeguard legacy features and ensure the thoughtful transfer of artifacts and memorabilia to commemorate the building’s storied past.
