American developer MCR Hotels announced the purchase of the London radio and television tower BT Tower for 275 million pounds sterling ($347 million).
According to British telecoms group BT, MCR intends to turn one of London’s most famous icons into a hotel.
The tower is approximately 190m high and was built in 1965 in the Fitzrovia area, a few blocks from the British Museum. It transmitted television and radio signals from London to other parts of the UK but ceased to perform its function more than 10 years ago after the transition to new broadcast formats. On the 34th floor of the tower, there is a revolving restaurant popular with tourists.
MCR owns and operates 150 properties, including the TWA Hotel in the former flight control center at JFK Airport in New York.