The towering London landmark in Fitzrovia has been bought by US-based MCR Hotels, which has offices in New York, London, Dallas, Chicago, and Virginia and owns 150 hotels in 37 states and 107 cities.
The Grade II-listed building was officially opened in 1965 and stands at around 177 metres. It was once home to a revolving restaurant located on its top floor that made a full turn every 23 minutes, giving diners 360-degree views over the capital but it closed in 1981 having been the site of a bomb explosion a decade earlier.
It was bought by BT Group in 1984.
The time frame for the conversion is yet to be announced with owner BT Group saying it will gradually vacate the building over the next couple of years before MCR Hotels takes it on. As a result, payment for the tower will be made in instalments over a number of years.
“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,” says BT Group property director, Brent Mathews.
“It has 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.”