2 months ago
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London's famous BT Tower landmark will be turned into an 'iconic hotel' after the sale of the grade-II listed building was agreed at £275m to an American company.
The grade-II listed communications tower, which was first opened by Prime Minister Harold Wilson in 1965, was sold to MCR Hotels.
The US hotels chain owns around 150 hotels, including the historic landmark Eero Saarinen-designed TWA Hotel in New York City.
BT Group says that equipment from the tower will be progressively removed from the building, while payment for the sale will be made over multiple years, with final payment being made on completion of the purchase.
The structure, which stands at 177 metres, will be taking on a 'new purpose' in the digital age in which the tower's function has become increasingly redundant.
The grade-II listed building was first opened by Prime Minister Harold Wilson in 1965
Brent Mathews, Property Director, BT Group said: 'The BT Tower sits at the heart of London and we've been immensely proud to be the owners of this important landmark since 1984.
'It's played a vital role in carrying the nation's calls, messages and TV signals, but increasingly we're delivering content and communication via other means.
'This deal with MCR will enable BT Tower to take on a new purpose, preserving this iconic building for decades to come.'
Tyler Morse, CEO and owner of MCR Hotels, said: 'We are proud to preserve this beloved building and will work to develop proposals to tell its story as an iconic hotel, opening its doors for generations to enjoy.'
