Criterion Capital

Last updated

Criterion Capital
Type Private
Industry Real estate
Founder Asif Aziz (CEO)
Headquarters London
Area served
Europe
Website www.criterioncapital.co.uk

Criterion Capital is a privately-held British property company, which owns and manages property estate in prime areas of London, particularly in Leicester Square and Piccadilly Circus. [1]

Contents

History

The company was founded by current Chief Executive Asif Aziz, a Malawi-born developer. [2] 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. [3] [4]

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. [5] The company extended rent-free periods to some tenants that were deemed to be "in need." [6] Plans were submitted in May 2020 to develop parts of the building's basement into a mosque. [7] These plans drew controversy as the Picadilly neighborhood was known for its nightlife rather than places of worship. [8]

Criterion Capital is also developing projects in Croydon with the purchase of two office buildings around 2015, [9] and has a riverside site at Enderby's Wharf, East Greenwich. [10]

The ultimate owner of the company is a trust linked to Aziz, via ACT Property Holdings Ltd, an Isle of Man company. [11]

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. [12]

Related Research Articles

<span class="mw-page-title-main">Piccadilly Circus</span> Road junction and public place in London, England

Piccadilly Circus is a road junction and public space of London's West End in the City of Westminster. It was built in 1819 to connect Regent Street with Piccadilly. In this context, a circus, from the Latin word meaning "circle", is a round open space at a street junction.

<span class="mw-page-title-main">Green Park tube station</span> London Underground station

Green Park is a London Underground station located on the edge of Green Park, with entrances on both sides of Piccadilly. It is served by the Jubilee, Piccadilly and Victoria lines. On the Jubilee line it is between Bond Street and Westminster; on the Piccadilly line it is between Piccadilly Circus and Hyde Park Corner and on the Victoria line it is between Victoria and Oxford Circus. It is in fare zone 1.

<span class="mw-page-title-main">London Pavilion</span> Series of buildings on the same site in London

The London Pavilion is a building on the corner of Shaftesbury Avenue and Coventry Street on the north-east side of Piccadilly Circus in London. It is currently a shopping arcade and part of the Trocadero Centre.

<span class="mw-page-title-main">Lots Road Power Station</span> Disused power station in Chelsea, London

Lots Road Power Station is a disused coal and later oil-fired and later gas-fired power station on the River Thames at Lots Road in Chelsea, London in the south-west of the Royal Borough of Kensington & Chelsea, which supplied electricity to the London Underground system. It is sometimes erroneously referred to as Fulham Power Station, a name properly applied to another former station a mile south-west along the Tideway.

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The Criterion Theatre is a West End theatre at Piccadilly Circus in the City of Westminster, and is a Grade II* listed building. It has a seating capacity of 588.

<span class="mw-page-title-main">London Trocadero</span> Entertainment complex in London

The London Trocadero was an entertainment complex on Coventry Street, with a rear entrance in Shaftesbury Avenue, London. It was originally built in 1896 as a restaurant, which closed in 1965. In 1984, the complex reopened as an exhibition and entertainment space. It became known for the video-game oriented SegaWorld attractions which were added in 1996, and later downscaled and renamed to "Funland" before its closure in 2011. Part of the building was opened as a hotel in 2020.

<span class="mw-page-title-main">Coventry Street</span> London street, within the City of Westminster

Coventry Street is a short street in the West End of London, connecting Piccadilly Circus to Leicester Square. Part of the street is a section of the A4, a major road through London. It is named after the politician Henry Coventry, secretary of state to Charles II.

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Capital & Centric Ltd is a Manchester-based property developer.

Asif Aziz is a London-based billionaire entrepreneur and philanthropist. As the founder and Chief Executive of Criterion Capital, he is known for owning and operating key landmarks including the London Trocadero and Criterion Building in Piccadilly Circus. Aziz is also the founder of family based charity the Aziz Foundation.

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References

  1. "Criterion Capital - Stay - Live - Work". criterioncapital.co.uk. Retrieved 16 April 2019.
  2. Rudgard, Olivia (4 October 2017). "Billionaire property developer says he was never married to 'wife' in bid to protect fortune, court hears". The Telegraph. ISSN   0307-1235 . Retrieved 15 July 2020.
  3. "Zedwell Piccadilly". Expedia . Archived from the original on 19 May 2021. Retrieved 15 July 2020.
  4. Sheppard, Owen (5 March 2018). "Rooftop bar to be built on the Trocadero in expanded hotel plan". Evening Standard. Archived from the original on 17 July 2020. Retrieved 15 July 2020.
  5. Meddings, Sabah. "Has coronavirus made Asif Aziz the meanest landlord in Britain?". The Times . ISSN   0140-0460 . Retrieved 20 January 2023.
  6. "Landlords hit back at accusations of aggressive tactics". Financial Times. 26 April 2020. Retrieved 20 January 2023.
  7. "Mosque plans submitted for London's Trocadero". BBC News. 20 May 2020. Retrieved 15 July 2020.
  8. "Plan to open mosque in Trocadero in London sparks objections". the Guardian. 22 May 2020. Retrieved 20 January 2023.
  9. Creighton, Sean (6 March 2015). "All yuppie apartments and no family homes – a risk for central Croydon?". Croydon Citizen. Archived from the original on 17 March 2015. Retrieved 15 May 2020.
  10. "Greenwich cruise terminal plan scrapped for housing". The Construction Index. 8 July 2019. Archived from the original on 8 July 2019. Retrieved 15 May 2020.
  11. "Criterion Capital Limited: Annual report 2019". Companies House. March 2019. p. 13. Retrieved 15 July 2020.
  12. "Criterion Capital invests €80m in first resid..." PropertyEU News. Retrieved 30 January 2023.

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