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The BT Tower in London will be transformed into a prominent feature of the city’s hotel landscape through a £275m agreement with American hotel developers MCR Hotels.
On Wednesday (February 21), the large telecommunications company declared that the Grade II listed structure had been purchased in order to streamline BT Group’s property holdings.
For more than a decade, the Tower has not been crucial for telecommunications traffic in London. This is because network operations have transitioned to digital and the microwave aerials on the structure were taken down.
The BT Tower held the title of being the tallest structure in London for a period of 16 years.
Brent Mathews, property director at 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 agreement with MCR will allow BT Tower to serve a new function, ensuring the preservation of this renowned building for many years to come.”
In 1965, Prime Minister Harold Wilson inaugurated the United Kingdom’s communication center which included a rotating restaurant on the top floor that was open to the general public until it was closed due to a suspected bombing by the IRA in 1971.
The 177m-tall structure, formerly known as the Post Office Tower, will be preserved as a renowned London hotel, marking the first time it will be used for leisure since the 1970s.
The restaurant that rotates on the 34th floor in the year 1965.
The tower held the record for being the tallest building in the city until 1980, when the NatWest Tower (now known as Tower 42) was constructed, reaching a height of 183m.
Tyler Morse, the Chief Executive Officer and proprietor of MCR Hotels, stated: “We take pride in preserving this cherished structure and will strive to create plans that showcase its history as a renowned hotel, welcoming future generations to experience its charm.”
MCR currently has a portfolio of more than 150 hotels, which includes notable properties such as the TWA Hotel, The Lexington, and The New Yorker.
The hotel company stated that it will take several years for BT to leave the property because of the complicated equipment on the premises. The payment for the agreement will be spread out over a span of years.
Source: independent.co.uk
