London: London’s iconic BT Tower, formerly the tallest structure in the heart of the city, has been sold for £275 million, paving the way for its conversion into an ultra-luxury hotel.
The tower, which held the title of London’s tallest building for 16 years until the NatWest Tower was erected, has long been a prominent landmark in the cityscape.
The sale of the tower was announced by its former owners, BT Group, on Wednesday, revealing that the property had been acquired by MCR Hotels. This news has been warmly received by the architectural heritage campaign group C20, which hopes to see the tower’s revolving restaurant reinstated.
Brent Mathews, Property Director at BT Group, expressed pride in the ownership of the BT Tower since 1984, highlighting its significance as a national landmark and its integral role in telecommunications. However, with the evolution of communication methods, the decision to repurpose the tower has been made in collaboration with MCR, ensuring its preservation for future generations.
Tyler Morse, CEO and owner of MCR Hotels, emphasized the commitment to preserving the BT Tower and transforming it into an iconic hotel. Drawing on their experience with historic landmarks like the TWA Hotel in New York City, MCR aims to develop proposals that honor the tower’s legacy while providing a unique hospitality experience.
The sale, structured with payments over multiple years, aligns with the gradual removal of BT Group equipment from the tower. This phased approach culminates in the final payment upon completion of the purchase, securing the future of the BT Tower under its new stewardship.
Initially opened in 1965 by then Prime Minister Harold Wilson, the 177-meter tower has served various purposes over the years, including being utilized by television broadcasters for signal transmission. Now, with its impending transformation into a hotel, the BT Tower is poised to embark on a new chapter in its illustrious history.
