BT Tower to be sold off for £275 million and turned into hotel, with Garden Bridge architect attached
21 February 2024, 11:08
The BT Tower will be sold for £275 million and will become a luxury hotel, if its new owner gets permission.
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BT has agreed to sell the central London tower, once the tallest building in the capital, to US company MCR Hotels for £275 million.
The telecoms giant said that the tower was less useful now, given the rise of digital services. Fixed and mobile networks have replaced the BT Tower's role in communications, and its microwave aerials were taken down more than ten years ago.
The company said in a statement: "The BT Tower has long been an important site for BT Group's Media & Broadcast business, as one of the key global interchange points for live television.
"As part of its long-term strategy, the Media & Broadcast division has already been migrating services onto its cloud-based platform, which will allow a more straightforward move to more modern and efficient premises.
"This will enable the division to continue to sit at the heart of UK and global media distribution."
The tower is Grade II-listed, and MCR would need to meet strict planning permission rules to repurpose it as a hotel.
No design has been completed yet, but the company has hired Heatherwick Studio - one of the UK's best-known architecture firms - to work on plans.
Heatherwick are perhaps best known for the failed Garden Bridge in London, but are behind several other large projects in the UK and across the world.
MCR acknowledged that it would take several years to turn the BT Tower into a hotel.
The company said: "BT Group will take a number of years to vacate the premises, due to the scale and complexity of the work to move technical equipment, and there will be significant time for design development and engagement with local communities before any proposals come forward,
Tyler Morse, the company's chief executive and owner, said: "We are proud to become owners and custodians of the iconic BT Tower.
"We will take our time to carefully develop proposals that respect the London landmark's rich history and open the building for everyone to enjoy."
The BT Tower, which is on Cleveland Mews near Tottenham Court Road, was built in 1964, and used to be known as the Post Office Tower. BT became independent of the Post Office in 1981, and was privatised in 1984.
It was the tallest structure in London until it was overtaken in 1980 by the Natwest Tower, which is 183 metres tall. The Shard, built in 2012, is the tallest building in London as of 2024, at 309 metres.
