Criterion Capital has secured a £65 mln (€78 mln) loan facility with Coutts to refinance Hotel Indigo in Leicester Square.
The 112-room Hotel Indigo is located directly on London’s Leicester Square with a rooftop bar, a restaurant with panoramic views over central London, and prime retail space on the ground floor.
With the completion of this refinance, it has allowed Criterion Capital to focus on the ambitious expansion of its Zedwell brand, which seeks to offer 'sustainable sanctuaries' with a focus on minimising energy consumption and reducing waste.
Already a success in three central London destinations and with 13 new sites in the pipeline, including locations in the City of London, York, Manchester, and Edinburgh, Zedwell aims to expand its portfolio to 8,500 rooms by 2027, making its mark on popular tourist hotspots and prestigious city centres.
Omar Aziz, Criterion Capital, commented: 'Securing this loan facility with Coutts marks a pivotal milestone as we continue to grow our hospitality ventures.
'Zedwell embodies our vision of delivering distinctive hospitality experiences in prime city locations, and we’re excited to strengthen our presence across the UK, driving sustainable tourism and supporting regional economic growth. We also extend our gratitude to the Gateley team for their invaluable support throughout this transaction.'
Oliver Powell, director at Coutts, commented: 'We are delighted to have entered into this new relationship, it’s a very significant transaction for the Coutts Hotels Team and meets our key drivers of appetite in terms of location, operating model and private ownership.
'Criterion Capital have an inspiring vision for their Zedwell hotel brand and we look forward to collaborating with Criterion Capital as they bring their successful London-based hotel model to key strategic locations across the UK.'
