US hotel group buys London's BT Tower in €321...

The Grade II listed building will be turned into a hospitality asset as MCR works with Camden-based Heatherwick Studio to design it.

Tyler Morse, CEO and owner of MCR, said: 'We are proud to become owners and custodians of the iconic BT Tower. We will take our time to carefully develop proposals that respect the London landmark’s rich history and open the building for everyone to enjoy.'

BT Group will take a number of years to vacate the premises, due to the scale and complexity of the work to move technical equipment, and there will be significant time for design development and engagement with local communities before any proposals come forward.

MCR owns and operates many of New York’s best-known hotels, including The High Line Hotel, a former seminary, and the TWA Hotel at JFK Airport, a reimagining of Eero Saarinen’s 1962 landmark Flight Center, which received a national Architecture Award from the American Institute of Architects.

The company also owns and is currently redeveloping the famed Gramercy Park Hotel.

'We see many parallels between the TWA Hotel and the BT Tower,' said Morse. 'Both are world-renowned, groundbreaking pieces of architecture. It’s been a privilege to adapt the TWA Flight Center into new use for future generations, as it will be the BT Tower.'