Criterion Capital has purchased 109-112 Princes Street in Edinburgh to open its first Zedwell hotel in Scotland.
Set over 116,500 sq ft, the new Zedwell hotel will offers views of Edinburgh Castle and Princes Street Gardens and will feature rooms equipped with noise-reducing walls, floors and doors as well as warm ambient lighting in line with Zedwell’s sleep-focused concept.
The project at the former Debenhams store joins Criterion’s pipeline of 22 hotels which will add to its current sites at Greenwich, Piccadilly Circus and Tottenham Court Road in London and Zedwell Manchester, which is expected to open in 2026.
What they said
Asif Aziz, founder & CEO of Criterion Capital said: "Opening our first hotel in Scotland is a significant step in our ambitious UK-wide expansion of our unique Zedwell hotel brand. Edinburgh’s rich history, cultural significance and strong tourism sector make it an ideal location for Zedwell. This project represents a fantastic addition to our committed pipeline of 22 hotels with over 7000 rooms that, together with our expanding residential and commercial portfolios, will see our AUM exceed £6 billion.”
Kerr Young, head of UK national hotels transactions, capital markets at JLL added: “We are delighted to have advised on the sale of 109 Princes Street. Edinburgh remains the best performing hotel market in Europe and JLL are very excited to be facilitating the entry of a new hotel concept such as Zedwell to the market which will support the adaptive reuse of a strategically important property located in the heart of the city centre.”