The sale of BT Tower to MCR Hotels for £275 million

It will be several decades before anyone can purchase a stay, as the new proprietor acknowledges that BT’s vacating and the establishment of a consensus on a design will require considerable time.

BT Tower, a landmark structure in London, is slated to be converted into a hotel if the vision of its new owner is realised.

BT Group disclosed on Wednesday that it had reached a £275 million agreement with MCR Hotels to purchase the 177-meter-tall (581-foot) tower in the West End.

The Grade II-listed communications tower had become progressively obsolete due to the transition to digital services, as explained by the telecommunications firm.

The fixed and mobile networks operated by BT Group have progressively supplanted the tower’s indispensable role in communications within the United Kingdom.The sale of BT Tower to MCR Hotels for £275 million

The elimination of its microwave antennas occurred over a decade ago.

At one time, it stood as the highest edifice in London.

Upon its completion in 1964, it surpassed the Millbank Tower; however, in 1980, it was surpassed once more by the NatWest Tower.

“For many years, the BT Tower has served as a pivotal location for the Media & Broadcast division of BT Group, functioning as a significant global hub for live television transmissions,” reads a statement.

“The Media & Broadcast division has commenced the migration of services to its cloud-based platform as part of its long-term strategy. This transition will facilitate a more streamlined transition to premises that are more contemporary and efficient.”

This will maintain the division’s central position in media distribution for the United Kingdom and the world.

MCR, which owns and operates 150 hotels worldwide, including The High Line Hotel in New York City and the TWA Hotel at JFK Airport, stated that a design for the tower’s repurposing had not yet been finalised.

Being classified as such would impose stringent planning regulations on that undertaking.

“MCR will collaborate with Heatherwick Studio of Camden to determine how best to reimagine its use as a hotel,” the company announced, adding that the project would likely take an extended period of time to complete.

The relocation of technical equipment by BT Group is anticipated to require several years to complete. Furthermore, substantial time will elapse for design development and community engagement prior to the submission of proposals, the company stated.

MCR’s owner and chief executive officer, Tyler Morse, further stated, “We are honoured to acquire and take guardianship of the iconic BT Tower.

We shall meticulously develop proposals that demonstrate respect for the rich history of the London landmark while simultaneously ensuring that the structure remains accessible for all to appreciate.

Elevating Dubai’s Visual Identity: Top Signage Companies Redefining the Cityscape

Leave a Reply

Your email address will not be published. Required fields are marked *