Money-spinner... BT Tower to become £275m hotel
THE BT Tower is set to be turned into an upmarket hotel after being sold by the telecoms giant for £275million.
The deal with MCR Hotels, which owns and operates 150 sites globally, will preserve the Grade II-listed building’s future.
The 580ft tower – or 620ft tall if you include its aerial rigging – was opened in 1965 by then prime minister Harold Wilson. It has dominated London’s skyline ever since with its distinctive cantilevered top.
First owned by the General Post Office, the Post Office Tower acted as a hub for the UK’s communications network.
It was open to the public until 1980, with a viewing platform and a revolving roof-top restaurant that was run by holiday camp impresario Billy Butlin. The eaterie was temporarily closed in 1971 after a bomb exploded on the 33rd floor, for which both the IRA and the Left-wing Angry Brigade claimed responsibility.
Since 1984, when it was taken over by BT, the top floor has been used to host corporate and charity events while its ‘infoband’ screen beamed messages across the London’s skyline.
MCR has yet to complete a design for its repurposing but it will take BT time to leave the site.
Any changes are likely to be subject to strict planning rules due to its listed status, achieved in 2003. Tyler Morse, owner of MCR, added: ‘We will take our time to develop proposals that respect the London landmark’s rich history and open the building for everyone to enjoy.’ The sale comes as BT continues with cost-cutting plans. Brent Mathews, property director at BT, said: ‘Increasingly, we’re delivering communication via other means.’
Construction of the structure started in 1961, being designed by a team led by the architect Eric Bedford. The building, which shifts less than ten inches in wind speeds of up to 95mph, cost a total of £11.5million.
Queen Elizabeth II made an official visit in May 1966, taking tea in the top 34th floor.
Two days later, the restaurant and viewing galleries were opened to the public and it attracted nearly one million visitors in its first year, with some 105,000 dining in the restaurant.
It remained London’s tallest building until 1980 when overtaken by the NatWest Tower.