Metro Bank has finalised a £16mn, five-year funding package with Criterion Capital to refinance Zedwell Greenwich, which opened in October 2023. This investment is central to Criterion Capital's ambitious expansion strategy of transforming obsolete buildings into lifestyle hotels. With 13 more Zedwell hotels planned by 2027 across the UK, the brand is set to have over 7000 rooms in its portfolio.
Located in historic Greenwich, near attractions like the Cutty Sark, the Old Royal Naval College and O2 Arena, Zedwell Greenwich is strategically positioned in a tourist hotspot and offers 123 rooms – aptly named “cocoons”. Joining Zedwell's existing sites in Piccadilly Circus and Tottenham Court Road, the hotel embodies the brand's ethos of innovative design, sustainability and wellbeing.
Omar Aziz, Director at Criterion Capital, commented: “We would like to thank the Metro Bank team for their support of the ambitious plans we have for our innovative Zedwell brand. The opening of Zedwell Greenwich marked a significant step in our strategic expansion. The hotel boosts the local economy and showcases Greenwich as a key destination for sustainable tourism by offering a unique, sleep-focused experience.”
Nicholas Kalamaras, Head of Hospitality & Leisure at Metro Bank, commented: “Metro Bank has established expertise in financing hospitality and leisure businesses and we are really happy to see this deal complete as Criterion Capital continues its ambitious growth plans for the brand. Zedwell is a unique and innovative hotel brand which offers peaceful, affordable spaces in key city centre locations and we’re excited to see it achieve its growth plans over the next few years.”
