UK: Property funding firm Criterion Capital has acquired One Princes Road, situated within the Metropolis of London, for its Zedwell lodge model.
One Princes Road is a Grade II-listed constructing constructed in 1931, initially designed by Edwin Cooper. It sits near Financial institution Station in addition to landmarks corresponding to St Paul’s Cathedral, Leadenhall Market, and the Barbican Centre.
Zedwell plans to open 8,500 rooms by 2027, with upcoming areas together with York, Manchester and Edinburgh.
Halima Aziz, head of accommodations at Criterion Hospitality, mentioned: “Buying One Princes Road marks a serious step within the development of our Zedwell model. This prime vacation spot blends historical past, commerce, and tradition, completely aligning with our imaginative and prescient of offering serene, carbon-conscious areas for relaxation. We’re excited to convey Zedwell’s transformative providing to one in all London’s busiest districts, providing visitors an unrivalled, rejuvenating expertise.”
Final month, Criterion secured £25 million from Cynergy Financial institution to fund the enlargement of Zedwell. There are presently three London accommodations open in Piccadilly Circus, Greenwich and Tottenham Courtroom Street.
Criterion Capital has greater than £6 billion of property beneath administration. The corporate’s portfolio consists of 24 accommodations with round 8,500 rooms throughout the UK, a residential portfolio comprising 4,020 residences, and 30 business buildings in London.
