Criterion Capital

The company was founded by current Chief Executive Asif Aziz, a Malawi-born developer.{{Cite news|last=Rudgard|first=Olivia|date=2017-10-04|title=Billionaire property developer says he was never married to 'wife' in bid to protect fortune, court hears|language=en-GB|work=The Telegraph|url=https://www.telegraph.co.uk/news/2017/10/04/billionaire-property-developer-says-never-married-wife-bid-protect/|access-date=2020-07-15|issn=0307-1235}} The company's flagship project is the London Trocadero leisure complex on Piccadilly Circus, which was acquired in 2005. Part of the building was converted into a hotel which opened in 2020: the Zedwell Piccadilly has 728 windowless rooms and a large rooftop bar.{{Cite web|last=|first=|date=|title=Zedwell Piccadilly|url=https://www.expedia.com/London-Hotels-Zedwell-Piccadilly-Trocadero.h42297074.Hotel-Information|url-status=live|archive-url=https://web.archive.org/web/20210519004321/https://www.expedia.com/London-Hotels-Zedwell-Piccadilly-Trocadero.h42297074.Hotel-Information |archive-date=19 May 2021 |access-date=15 July 2020|website=Expedia}}{{Cite web|last=Sheppard|first=Owen|date=2018-03-05|title=Rooftop bar to be built on the Trocadero in expanded hotel plan|url=https://www.standard.co.uk/go/london/bars/rooftop-bar-to-be-built-on-the-trocadero-in-expanded-hotel-plan-a3781486.html|url-status=live|archive-url=https://web.archive.org/web/20200717022425/https://www.standard.co.uk/go/london/bars/rooftop-bar-to-be-built-on-the-trocadero-in-expanded-hotel-plan-a3781486.html |archive-date=17 July 2020 |access-date=2020-07-15|website=Evening Standard|language=en}}

In April 2020, the company served its tenants with notices that they would be met with legal action if they did not pay rent during the COVID-19 pandemic in the United Kingdom, despite the government moratorium on evictions.{{Cite news |last=Meddings |first=Sabah |title=Has coronavirus made Asif Aziz the meanest landlord in Britain? |newspaper=The Times |language=en |url=https://www.thetimes.com/culture/theatre-dance/article/has-coronavirus-made-asif-aziz-the-meanest-landlord-in-britain-tb92dbdm9 |access-date=2023-01-20 |issn=0140-0460}} The company extended rent-free periods to some tenants that were deemed to be "in need."{{Cite news |date=2020-04-26 |title=Landlords hit back at accusations of aggressive tactics |work=Financial Times |url=https://www.ft.com/content/1475e844-992d-414e-b0c4-e04cf5dba81b |access-date=2023-01-20}} Plans were submitted in May 2020 to develop parts of the building's basement into a mosque.{{Cite news|date=2020-05-20|title=Mosque plans submitted for London's Trocadero|language=en-GB|work=BBC News|url=https://www.bbc.com/news/uk-england-london-52731896|access-date=2020-07-15}} These plans drew controversy as the Picadilly neighborhood was known for its nightlife rather than places of worship.{{Cite web |date=2020-05-22 |title=Plan to open mosque in Trocadero in London sparks objections |url=http://www.theguardian.com/uk-news/2020/may/22/plan-to-open-mosque-in-trocadero-in-london-sparks-objections |access-date=2023-01-20 |website=the Guardian |language=en}}

Criterion Capital is also developing projects in Croydon with the purchase of two office buildings around 2015,{{Cite web|title=All yuppie apartments and no family homes – a risk for central Croydon?|url=https://thecroydoncitizen.com/politics-society/yuppie-apartments-family-homes-risk-central-croydon/|last=Creighton|first=Sean|date=6 March 2015|website=Croydon Citizen|url-status=live|archive-url=https://web.archive.org/web/20150317035236/http://thecroydoncitizen.com:80/politics-society/yuppie-apartments-family-homes-risk-central-croydon/ |archive-date=17 March 2015 |access-date=15 May 2020}} and has a riverside site at Enderby's Wharf, East Greenwich.{{Cite web|title=Greenwich cruise terminal plan scrapped for housing|url=https://www.theconstructionindex.co.uk/news/view/greenwich-cruise-terminal-plan-scrapped-for-housing|last=|first=|date=8 July 2019|website=The Construction Index|language=en|url-status=live|archive-url=https://web.archive.org/web/20190708112056/https://www.theconstructionindex.co.uk/news/view/greenwich-cruise-terminal-plan-scrapped-for-housing |archive-date=8 July 2019 |access-date=2020-05-15}}

The ultimate owner of the company is a trust linked to Aziz, via ACT Property Holdings Ltd, an Isle of Man company.{{Cite web|last=|first=|date=March 2019|title=Criterion Capital Limited: Annual report 2019|url=https://beta.companieshouse.gov.uk/company/05887591/filing-history/MzI1MDIwMDA3MGFkaXF6a2N4/document?format=pdf&download=0|access-date=15 July 2020|website=Companies House|page=13}}

In 2022, the company invested €80 million into residential apartments in Miraflores, Portugal. This was the company's first expansion outside of the United Kingdom.{{Cite web |title=Criterion Capital invests €80m in first resid... |url=https://propertyeu.info/Nieuws/Criterion-Capital-invests-80m-in-first-residential-project-in-Portugal/0ac26668-34c0-4179-9907-1b47da07ea07 |access-date=2023-01-30 |website=PropertyEU News}}

In 2024/2025, Criterion Capital faced public scrutiny and media attention following the announcement of the planned closure of the world's oldest YMCA building on Great Russell Street,{{Cite web |date=2024-12-04 |title=World's first YMCA in central London to close in February |url=https://www.bbc.co.uk/news/articles/c0mv0vn821eo |access-date=2025-01-14 |website=BBC News |language=en-GB}} London, which the company had acquired.{{Cite web |last=Berrill |first=Lewis |date=2024-12-04 |title=Criterion snaps up central London site of world's first YMCA |url=https://www.propertyweek.com/news/worlds-first-ymca-sold-to-criterion-as-charity-struggles-with-maintenance-costs |access-date=2025-01-14 |website=Property Week |language=en}} The YMCA building has long been regarded as a vital community hub, providing affordable facilities, fitness classes, and educational programs to residents across London.

A campaign "Save YMCA Club" emerged,{{Cite web |last=Davison |first=Tamara |date=2024-12-12 |title=Thousands back campaign to save London's oldest YMCA from closure |url=https://www.standard.co.uk/news/london/campaign-save-central-ymca-london-petition-b1199607.html |access-date=2025-01-14 |website=The Standard |language=en}} advocating for a six-month pause on the closure to explore sustainable solutions to preserve the historic site. The campaign has garnered widespread support, including coverage by major outlets like BBC News and various local newspapers. Protesters, community leaders, and members of the YMCA have called on Criterion Capital and its leadership to collaborate on a rescue plan to retain the site's services under a new brand or operational model.{{Cite web |date=2025-01-09 |title=Central London flash mob tries to save YMCA from closure |url=https://www.bbc.co.uk/news/articles/cgrwrv0p8y5o |access-date=2025-01-14 |website=BBC News |language=en-GB}} Criterion Capital has yet to release a detailed public statement addressing the campaign, though the issue has sparked broader discussions about the preservation of historic community spaces in central London amidst growing commercial developments.{{Cite web |last=Waterson |first=Jim |title=Merry Christmas, you're evicted |url=https://www.londoncentric.media/p/merry-christmas-youre-evicted?open=false#%C2%A7young-man-theres-no-place-you-can-go |access-date=2025-01-14 |website=www.londoncentric.media |language=en}}

The company again came under discussion in early 2025 after the Prince Charles Cinema stated that their landlord Zedwell LSQ Ltd (owned by Criterion Capital) were demanding both a significant raise in rent and a 6 month break clause in the new lease.{{Cite web |date=2025-01-28 |title=Cult London film venue Prince Charles cinema under threat of closure |url=https://www.theguardian.com/film/2025/jan/28/prince-charles-cinema-threat-of-closure-london-cult-venue |access-date=2025-01-28 |website=The Guardian |language=en-GB}} A petition entitled "Save The Prince Charles Cinema" was set up by the cinema in response. The petition gathered 115,000 signatures in its first two days.{{Cite web |date=2025-01-29 |title=London's beloved Prince Charles Cinema is under threat — here's how you can help save it |url=https://www.shortlist.com/news/londons-beloved-prince-charles-cinema-is-under-threat-heres-how-you-can-help-save-it-405206 |access-date=2025-01-29 |website=Shortlist |language=en}}

In 2025, reports emerged highlighting widespread maintenance issues and vermin infestations in properties managed under Criterion Capital's "Dstrkt" housing brand, despite rapidly rising rents. {{Cite web |last=Waterson |first=Jim |title=The Prince Charles Cinema landlord and his cockroach-infested "worst place to live in Croydon" |url=https://www.londoncentric.media/p/asif-aziz-delta-point-croydon-prince-charles-cinema |access-date=2025-03-15 |website=www.londoncentric.media |language=en}} Criterion's Asif Aziz also reportedly paid £150,000 to settle allegations that he had illegally operated an unlicensed Forrest Gump-themed shrimp restaurant at Piccadilly Circus. After its closure, the site was repurposed and later drew further scrutiny when it reopened in December as a reportedly tax-avoiding, unofficial Harry Potter-themed shop. {{Cite web |last=Waterson |first=Jim |title=Kitchen foil and Algerian markets: What happens when your phone is stolen in London? |url=https://www.londoncentric.media/p/kitchen-foil-and-algerian-markets |access-date=2025-03-15 |website=www.londoncentric.media |language=en}}

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Category:Property companies of England

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https://www.criterioncapital.co.uk/