An agreement will lead to the iconic BT Tower to be purchased by TWA Hotel owner and operator for £275 million, which is the equivalent of almost $347,389,000.00 in United States dollars. Current plans are to repurpose one of the tallest buildings in London as a hotel property and open it to the public after the purchase has been completed.
BT Tower To Be Purchased by TWA Hotel Owner and Operator
Originally called the Post Office Tower, the BT Tower opened in 1965 as the tallest building in London for 16 years. It is located in the Fitzrovia district of central London and encompasses a full city block. The Historic Buildings and Monuments Commission of England lists the tower as Grade II importance.
Founded in 2006, MCR Hotels is the third-largest hotel owner and operator in the United States. The company owns and operates many of the best-known hotel properties in New York — including:
- The High Line Hotel, which is a former seminary
- TWA Hotel, which received a national Architecture Award from the American Institute of Architects
- Gramercy Park Hotel, which is currently undergoing redevelopment and is scheduled to open in 2025
The latest acquisition for MCR Hotels is the result of an agreement to purchase the landmark tower from BT Group, which was formerly known as British Telecom. Because BT Group will not completely vacate the premises for years due to the scale and complexity of the work to move technical equipment — as well as significant time for design development and engagement with local communities before proposals are revealed — the date of when the hotel property will open is currently unknown and will not occur for years.
MCR will partner with Heatherwick Studio — which is based in London — to consider how best to reimagine its use as a hotel property. The original purpose of the BT Tower was to be used for telecommunications by transmitting signals from broadcasters of television programs.
Final Boarding Call
As with the TWA Hotel, the acquisition of the BT Tower is a chance to restore it to its former grandeur and be appreciated by the public…
…but as with the TWA Hotel, expect the room rates to be quite pricey.
Note: a special thank you is for derek — who is a reader of The Gate With Brian Cohen — for sending information about this development.
Photograph ©2022 by Brian Cohen.
