The Square Mile and Me: Asif Aziz on turning London’s neglected spaces into eclectic landmarks
Entrepreneur Asif Aziz – CEO of Criterion Capital and the operator of the London Trocadero and a host of London landmarks – has made the capital his playground
What was your first job?
When I was still in school, I was intrigued by the London property market. My first ‘real’ job was at Morgan Grenfell Laurie where I learnt from the best in the commercial property industry. My first actual job was at McDonald’s flipping burgers.
When did you know that London was the place for you?
From the 1980s onward, I was certain that London was my kind of place. I was seduced by the immense opportunities it offered and loved its vibrant energy. London is full of unique spaces, and I saw opportunities to reimagine and shape them.
What was your break into London?
I fell in love with property when I was just 16 and made my first acquisition. This became an important stepping-stone, which led to other projects and set me off on my business journey. I was well and truly bitten by the property bug and I have never looked back.
What’s one thing you love about London?
I’m drawn to London’s historic architecture and iconic landmarks. It’s not just about beautiful buildings, it’s also this ability to make real, positive change. For years, London has been a melting pot of cultures and communities. People from all around the world have come here and made it their home.
Today, the Muslim community is the second biggest group in London, making up 15 per cent of the population. And yet financially it remains one of the most deprived, with the average household income below £30,000. That’s why I founded the Aziz Foundation, which provides scholarships to Muslim students wanting to pursue their master’s degrees but lacking the financial means to do so.
And one thing you would change?
I’d like to see a fairer and more inclusive business and work environment, with better representation of diverse races and cultures at every level, from the boardroom all the way to customer-facing roles.
At the Aziz Foundation, we focused our scholarship on four sectors where Muslims are underrepresented: these are financial services, law, arts and journalism. In journalism for instance, Muslims make up less than one per cent of the workforce and yet every news editor will agree the value that diversity brings when it comes to reporting the news.
Who’s the business figure you most admire?
I really admire what Veeraswamy, Chutney Mary and Masala Zone founder Ranjit Mathrani (pictured) has done for Indian food in London. He’s someone who has brought authentic Indian flavours to London’s fine dining scene.
He’s given Britain’s long-standing love affair with Indian food a contemporary twist, offering genuine taste at affordable prices in a laid-back, stylish setting. He’s showcased the diversity of Indian cuisine—it’s not just one type of dish or flavour.
What’s been your most memorable moment in London?
It’s been quite a ride working in London. Some of my most unforgettable experiences have been repositioning and transforming neglected spaces into hotels for our Zedwell brand.
For instance, we transformed unused sections of an amusement arcade in Trocadero, Piccadilly into a chic lifestyle hotel situated in the city’s heart. Modern society has become so fast paced, so we have created a peaceful oasis in disused spaces in prime locations, removing unnecessary distractions so our guests are focused on the importance of a good night’s sleep.
We have recently taken this concept to the next level by opening our first underground hotel in Tottenham Court Road. We have discovered that underground spaces, in particular, provide the perfect fundamentals for a hotel – a quiet, dark and thermally stable environment, away from the hustle and bustle of the city.
We’re going for lunch and you’re picking – where are we going?
Masala Zone, Criterion Building, Piccadilly Circus. The food takes me back to my childhood—lots of flavours and spices, with healthy and delicious ingredients. It’s a trip down memory lane every time I go.
And if we’re going for a drink after work?
Piccadilly is very much the epicentre of my business world and so when it comes to relaxing, I love watching the sun set over London from LSQ Rooftop in Leicester Square and the Rooftop Bar & Restaurant at Assembly Hotel in Convent Garden.
Are you optimistic for the rest of 2023?
I’ve always been an optimist at heart. With all the new projects coming up and the endless possibilities they bring, especially in such a vibrant city, I’m genuinely excited for the future.
Post-Covid, we have seen that London is transforming with the demand for office space and retail space decreasing and hence great buildings in many exciting locations coming to the market.
This, coupled with the increased focus on sleep amongst travellers, has created the perfect storm for our Zedwell hotel concept to thrive. We have over 3,000 beds coming to market in the next three years and I’m particularly excited about the two new Zedwell hotels in Trafalgar Square and Victoria.
Give us one opinion that sails against the prevailing wisdom
There is a prevailing view that diversity is not really centre stage when it comes to driving business values. I beg to differ. If London wants to retain its position as a leading financial centre in the world, it has to be inclusive and it has to be representative of all cultures that reside here.
The other perception we’re fighting is that central London can’t be done well on a budget. London has an amazing choice of restaurants, bars and entertainment and I believe that guests should spend their hard-earned money enjoying a great meal or a show rather than paying for an expensive hotel room.
Where’s home during the week?
Shaftesbury Avenue, the heart of theatreland. Nothing beats staying right in the middle of the West End, but it can also be hard to get a good night’s sleep with all the activity around you 24/7. The Zedwell concept focusing on sleep was a direct response to being woken up by sirens in the middle of the night.
And where will we find you at the weekend?
Catch me exploring the culinary and cultural delights of the West End. I’m particularly fond of seeking out street markets such as Berwick Street Market in Soho and shopping for antique books and maps on Cecil Street and Charing Cross Road.
You’ve got a well-deserved two weeks off – where are you going, and with who?
Given two weeks off, I’d be off to a rejuvenating yoga retreat in India with my wife, my partner through all of life’s adventures.