MCR Hotels has secured the purchase of BT Tower for £275m. MCR plans to transform the iconic building into a hotel.

BT Tower is home to BT Group’s Media & Broadcast business and has previously acted as one of the key global interchange points for live television. However, many of the network operations that were traditionally provided by BT Tower are now delivered via the group’s fixed and mobile networks. For example, the tower’s microwave aerials were removed more than a decade ago, as they were no longer needed to carry telecommunications traffic from London to the rest of the country.


MCR Hotels has purchased BT Tower

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As part of BT Group’s long-term strategy, the Media & Broadcast division has already been migrating services onto its cloud-based platform, which will facilitate the move to new premises.

Brent Mathews, Property Director, 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 deal with MCR will enable BT Tower to take on a new purpose, preserving this iconic building for decades to come.”

Tyler Morse, CEO and owner of MCR Hotels, 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.”

MCR Hotels own around 150 hotels, including the historic landmark Eero Saarinen-designed TWA Hotel in New York City. Payment for the sale will be made over multiple years, as BT Group equipment is progressively removed from the building, with final payment on completion of the purchase.

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