BT Group has agreed a £275m deal to sell its iconic Fitzrovia tower for £275m to MCR Hotels.
Many network operations traditionally provided from BT Tower are now delivered via BT Group’s fixed and mobile networks. For example, the Tower’s microwave aerials were removed more than a decade ago.
As part of a long-term strategy, BT’s Media & Broadcast division has already been migrating services onto its cloud-based platform.
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 plans to preserve BT Tower as a hotel, adding to its global portfolio of 150.
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.”