BT Group sells BT Tower

BT Group has announced the sale of BT Tower to MCR Hotels for £275m.

The building has long been an important facility of the UK’s broadcast and media industries, but it will now be preserved as a hotel. BT Media & Broadcast has already begun migrating its services to a cloud platform, with the aim to move to more, “more modern and efficient,” premises. 

BT also explains that, “a number of network operations that were traditionally provided from BT Tower are now delivered via BT Group’s fixed and mobile networks.”

BT Group equipment will be progressively removed from the building as payments from the sale are made over multiple years. Completion of the purchase will come with the final payment.

MCR Hotels owns around 150 hotels globally, including the TWA Hotel in New York City.

Brent Mathews, property director at 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.”