Zedwell has confirmed plans to convert 1 Princes Street into a flagship hotel, marking a major step in the brand’s continued growth and reinforcing its ambition to deliver a scalable, tech-driven hospitality platform across prime city-centre locations.

Located on the prestigious Bank Junction – one of the world’s most iconic and photographed intersections and the historic setting for the Lord Mayor’s Show – the Grade II-listed building adjoins The Ned and sits adjacent to The Royal Exchange, the Bank of England and Mansion House. It will be thoughtfully reimagined to combine architectural heritage with Zedwell’s distinctive, tech-driven operating model, delivering simplicity, efficiency and consistency at scale.

The announcement follows Zedwell’s recent expansion into Oxford, York and Spitalfields, underscoring the pace and ambition of the brand’s UK rollout as it continues to establish a high-performance platform across the country’s most desirable, high-footfall urban locations.

Constructed in 1929 as the headquarters of National Westminster Bank and designed by Sir Edwin Cooper, 1 Princes Street is a defining feature of the City of London’s architectural landscape. Its Portland stone façade, grand banking hall and domed ceiling will be carefully preserved and restored, ensuring the building’s heritage remains central to its next chapter, while its interior will be repositioned to meet modern hospitality needs.

Built as a modern, tech-driven hospitality platform, Zedwell’s signature clutter-free rooms – aptly named “cocoons” – redefine the fundamentals of the hotel experience through efficiency, simplicity and understated elegance, combining a fully digital guest journey with spaces designed to minimise distraction and maximise comfort. Guests benefit from a seamless, end-to-end experience – from intuitive self check-in to digital key access – supported by 24/7 AI-powered assistance, while advanced soundproofing, purified air systems and ambient lighting creates calm spaces within dense city environments.

At the heart of the scheme is the reactivation of the building’s ground and first floors, where the grand banking hall will be transformed into a vibrant, publicly accessible cultural and community space. This dynamic approach not only preserves the building’s heritage but also aligns with the City of London Corporation’s Destination City strategy – enhancing cultural engagement, increasing dwell time and strengthening the City’s appeal as a world-class destination. The space will be inclusive, delivering public exhibitions, events and educational programming in partnership with local charities, community groups and stakeholders. Alongside the c. 80,000 sq ft hotel, this placemaking initiative will create jobs, contribute to the regeneration of Bank Junction and the wider Square Mile and transform the building into a new civic destination.

The scheme reflects Zedwell’s established track record of unlocking value through adaptive reuse, transforming complex and underutilised buildings into high-performing hospitality assets in prime city-centre locations. By retaining and repurposing the existing structure, the development significantly reduces embodied carbon compared with new-build alternatives, while modern building systems and efficient design enhance long-term operational performance. Enhancements to the Princes Street entrance will improve visibility, access and the overall visitor experience.

Halima Aziz, Head of Hotels at Zedwell, commented: “1 Princes Street is one of the most prestigious buildings in the City of London, and this project reflects our vision to create hospitality destinations that are both respectful of their history and relevant for today’s guests. Importantly, it also introduces high-quality accommodation at an accessible price point for the people who work, live, study and visit the City, addressing a significant gap in the market. With a current and committed pipeline of more than 9,000 rooms by 2028, we are excited to continue building a scalable platform across supply-constrained gateway cities, and 1 Princes Street represents a major milestone in that journey.”

ENDS