BT Group has sold its iconic Fitzrovia tower, the BT Tower, to MCR Hotels for £275m.
Network operations once based in BT Tower have shifted to BT Group’s fixed and mobile networks, with the tower’s microwave aerials removed over a decade ago.
BT’s Media & Broadcast division is transitioning services to a cloud-based platform as part of its long-term strategy.
Brent Mathews, Property Director, BT Group said: “The BT Tower 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.”
The hotelier, which owns 150 properties globally, plans to convert the BT Tower into a hotel.
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.”
