Criterion Capital has announced the acquisition of One Princes Street, an historic site in the heart of the City of London, marking a pivotal step in the rapid UK-wide growth of its innovative Zedwell hotel brand. This strategic purchase strengthens Criterion Capital’s vision to redefine hospitality through sleep-centric hotel experiences.

This acquisition is a key milestone in the expansion of its Zedwell brand and reinforces Criterion Capital’s commitment to scaling its portfolio. Zedwell plans to open 8,500 rooms – aptly named “cocoons” – by 2027, in central city locations including York, Manchester, and Edinburgh. Zedwell’s cocoons are designed for ultimate relaxation, featuring soundproofed walls, purified air, body-cushioning mattresses, and ambient lighting, providing travellers with a restorative escape from the hustle and bustle.

Criterion Capital is dedicated to preserving the building’s rich heritage while adapting it for modern use. One Princes Street features a striking Grade II-listed facade and spans 79,077 sq ft. Designed by Sir Edwin Cooper and constructed in 1931, the building boasts an impressive double-height banking hall with a domed ceiling. The property is just steps from 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 prestigious portfolio, supporting the revitalisation of the area and honouring London’s architectural legacy.

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.”