British telecommunications giant BT Group has announced the sale of its renowned BT Tower, located in the heart of London, with plans for the building’s transformation into a hotel. The sale, valued at £275 million ($347 million), has been agreed upon with New York-based MCR Hotels.
In a statement, BT expressed confidence that MCR Hotels intends to maintain the iconic status of the BT Tower as a London landmark through its conversion into a hotel. The move comes as several operations previously housed within the building have transitioned to delivery via fixed and mobile networks.
“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,” stated Tyler Morse, CEO and owner of MCR Hotels.
Originally known as the Post Office Tower, the structure was completed in 1964 and officially inaugurated a year later by then-Prime Minister Harold Wilson. Standing at a height of 177 meters (580 feet), or 189 meters including aerial rigging, the tower boasted a revolving restaurant on its top floor and a panoramic viewing gallery.
However, following a bomb explosion on the 31st floor in 1971, which caused significant damage but fortunately, no casualties, both the restaurant and viewing gallery were closed.
The sale of the BT Tower marks a significant transition in its storied history, as it evolves from a telecommunications hub to a hospitality landmark set to enrich the London skyline for years to come.
