Billionaire property developer Asif Aziz, whose vast £9 billion portfolio spans hotels, shops, and residential buildings across Britain and Europe, is under increased scrutiny for a range of business practices that have drawn significant criticism. Aziz, widely known as 'Mr West End' for his extensive holdings in London's entertainment district, faces allegations of tenant mistreatment, including purported mass evictions and issues with building maintenance and essential services.
One prominent case involves Britannia Point, a South London tower block owned by Aziz's company, Criterion Capital. Residents have reported ongoing maintenance problems, including issues with lifts and hot water. In one incident in 2022, a window pane fell from the 12th floor, prompting widespread condemnation and media attention. More recently, during a heatwave, three children living in the block were hospitalized after their parents were reportedly told that the use of existing air conditioning units was not permitted. Tenants have claimed that air conditioning was switched off and that they were quoted prices ranging from £70 to £500 per month to use the units. Criterion Capital has stated that decisions regarding air conditioning were made by leaseholders Aura and People First Housing, and that advice to residents on sensible use was intended to help them make informed decisions about energy consumption.
Criterion Capital also faced allegations earlier this year of staging 'mass evictions' at Britannia Point ahead of new regulations protecting renters. Mayor of London Sadiq Khan declared himself 'appalled' by the reports, stating it was 'completely unacceptable' for hundreds of people to be evicted from their homes without fault. Criterion Capital later denied the claims, stating it never intended to implement mass evictions.
Aziz's business dealings extend to cultural landmarks and community spaces. He acquired the Trocadero leisure complex at Piccadilly Circus in 2005 for £220 million. Plans for the site have included a controversial two-storey mosque in the basement, which has since been revised to a prayer room and community center. He has also been accused of trying to 'bully' the Prince Charles Cinema, a much-loved London cinema, out of existence. The property occupied by the cinema is owned by Zedwell LSQ Ltd, a company linked to Aziz. The cinema launched a petition to save itself, claiming Zedwell and Criterion Capital used their financial resources to intimidate them. A new lease proposed to the cinema included a significant rent increase, a shorter agreement, and a break clause that the cinema believed could be activated if planning permission for a hotel on the site was granted.
Further controversy surrounds the proliferation of what are described as 'gaudy' or 'tawdry' gift shops in central London. Research by investigative news site London Centric found that every single one of these shops investigated had been rented from companies owned by Asif Aziz. The report indicated that some of these businesses may be operating tax evasion schemes, such as 'phoenixing,' where the legal owner disappears without paying tax, allowing a new owner to take over before also disappearing. The registered business addresses for these shops were sometimes found to be overcrowded flat shares or even car parks. While landlords are not legally obligated to monitor their tenants' tax affairs, the practice raises questions about Aziz's business ethics.
Aziz, who moved to London from Malawi as a child, began investing in property at age 16. He later spent time in Angola in the 1990s, where he secured lucrative distribution contracts. He sold that company in a multi-million-pound deal, though the buyers later sued, accusing him of inflating the company's value. Aziz denied these claims.
He has previously stated that he sees himself as a "shining symbol of London’s rich diversity" and has accused critics of "Islamophobia," describing himself as an "easy target." However, the cumulative effect of these controversies has led to significant public and mayoral criticism regarding the unchecked power he wields and its potential impact on cultural and community spaces.