The BT Tower, an iconic structure in London's West End, is about to become a hotel after its owner, BT Group, announced that it has agreed to sell the 177-meter structure to MCR Hotels for 275 million pounds ($347 million).

Prime Minister Harold Wilson inaugurated the tower in 1965, and for sixteen years until the construction of the NatWest Tower in the City of London, it was the tallest structure in London.

Its microwave aerials were removed more than a decade ago because they were no longer required to connect London to the rest of the country, and its role in communications has decreased as fixed and mobile technology changes.

The tower, located in the center of London, has been essential in transmitting TV signals, calls, and messages across the country, according to BT's Property Director.

In order to preserve this iconic building for many years to come, Brent Mathews stated that this agreement with MCR will allow BT Tower to take on a new function.

The CEO and proprietor of MCR Hotels, Tyler Morse, expressed his pride in the preservation of this cherished structure and promised to develop ideas to present its history as an iconic hotel, welcoming future generations inside.