MCR Hotels has bought the iconic tower for £275m
The BT Tower will remain a London landmark after MCR Hotels and BT Group agreed to a £275 million sale as part of BT’s cost-cutting measures, including downsizing the number of offices they have. Standing at 189 meters high, what was once the tallest building in London will soon also be an upscale hotel, operated by US-based company, MCR Hotels, which owns over 150 properties.
Located in Fitzrovia, the British Telecommunications Tower is a Grade II-listed building. When the tower first opened in 1965, it played a central role in communication networks around the city, though since mobile technology has evolved, BT now no longer relies on the tower to carry microwave signals across London and the UK. For the first six years, parts of the tower were even open to the public, and it famously had a revolving restaurant at the top. Recently it’s only been open to the public for one day a year as part of London’s Open House Festival. Though there is no exact date for when the hotel will open – BT has said it’ll take years to empty the site of all its technology – it’s not too early to get excited about what it’ll be like to sleep over in the tower.
In regards to the sale, CEO and owner of MCR Hotels, Tyler Morse, 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.”
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