BT sells BT Tower to be converted into hotel
London’s iconic BT Tower is to be sold and converted into a hotel.
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It said it would sell BT Tower to MCR Hotels for 275 million pounds ($347 million).
BT said network operations previously provided from the towers were now provided elsewhere. For example, microwave antennas were removed more than a decade ago, BT said.
The sale proceeds will be paid over a number of years as BT Group equipment is gradually removed from the building, with the final payment being made once the purchase is complete.
Privately owned MCR operates hotels including The High Line Hotel and TWA Hotel. “We are proud to preserve this beloved building, telling its story as an iconic hotel and providing a place for generations to enjoy,” Tyler Morse, CEO and owner of MCR Hotels, said in a statement. “We will work to develop proposals that will open the door,” he said.
