The Daily Telegraph quotes Naomi Nettleton on the sale of the BT Tower to a major luxury hotel group
min readBT Group has agreed to sell the iconic 177-metre BT Tower in London to hotel group MCR Hotels for £275 million ($347 million). The iconic building is now set to be turned into a luxury hotel.
The surprise announcement on Wednesday marks a significant change of role for the communications tower - which has been a central fixture of London's skyline since it was built in 1965.
Naomi Nettleton, Partner in our real estate team, comments in an article by The Daily Telegraph, explaining why the plans to turn the BT Tower into a hotel aren't actually a great shock.
[There is a] growing trend of repurposing London’s iconic buildings as hotels [...] The BT Tower is an iconic London building in a prime location, so the proposal to turn it into a hotel is not surprising. Unique architectural buildings as hotels offer robust property fundamentals – whether that be prestige, distinctive design or sense of heritage.
Read the full article in The Daily Telegraph here (subscription required).
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