LONDON — British telecoms group BT said Wednesday it had agreed to sell London's iconic BT Tower — once an important piece of network infrastructure — to developer MCR Hotels for £275 million ($346.6 million).
The 189-meter structure has loomed over the capital city's central Fitzrovia neighborhood since 1965, when it opened as the Post Office tower.
It was also known for a revolving restaurant on its 34th floor, which took 22 minutes to complete a rotation.
MCR Hotels owns 150 properties, including the TWA Hotel located in the former TWA Flight Center at John F. Kennedy International Airport.
Tyler Morse, CEO of MCR Hotels, said the group would "preserve this beloved building and will work to develop proposals to tell its story as an iconic hotel."
Persons:
John F, Tyler Morse
Organizations:
LONDON, BT, MCR, Post, MCR Hotels, TWA, TWA Flight, John, Kennedy International
Locations:
Fitzrovia, London