Criterion Capital has announced the acquisition of One Princes Street, a historic site in the heart of the City of London. 

The move marks a pivotal step in the UK-wide growth of its Zedwell brand, representing Criterion Capital’s commitment to scaling its portfolio. 

The firm is dedicated to preserving the building’s rich heritage, while adapting it for modern use. One Princes Street spans 79,077ft², complete with a striking Grade II-listed facade. Designed by Sir Edwin Cooper and constructed in 1931, the building is complete with a double-height banking hall with a domed ceiling. 

This acquisition is a key milestone in the expansion of Criterion Capital’s Zedwell brand and reinforces its commitment to scaling its portfolio. Zedwell plans to open 8,500 rooms – or ‘cocoons’ – by 2027, in central city locations including York, Manchester and Edinburgh.  

“Acquiring One Princes Street marks a major step in the growth of our Zedwell brand,” says Halima Aziz, Head of Hotels at Criterion Hospitality. “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.”