MCR, the third-largest hotel owner-operator in the United States, has agreed to purchase the BT Tower — one of London’s tallest buildings — from BT Group.
The sales price is estimated to be more than €300 million ($324 million), reported other media outlets.
MCR will own the 620-foot tower and podium, encompassing a full London city block, freehold.
MCR intends to secure the future of the tower — which was opened in 1965 in Fitzrovia, London, and is listed Grade II by England’s Historic Buildings and Monuments Commission — by repurposing it as a hotel and opening it to the public.
MCR will partner with London-based Heatherwick Studio to consider how best to reimagine its use as a hotel.
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