A fund manager has purchased a maze of tunnels beneath Central London that served as the inspiration for the creation of James Bond. They were once used by the spies and will soon be turning it into a tourist destination “as iconic as the London Eye” for £220 million.
‘James Bond’ Tunnels In Central London To Become Tourist Attraction!
Angus Murray, a fund manager, has agreed to purchase the tunnels from the former state-owned telecommunications company of Britain, BT Group Plc. He also has a four-year renovation plan for the location. The Kingsway Telephone Exchange is 40 metres below the legal offices that make up London’s Holborn neighbourhood and occupies 8,000 square metres.
He wants to create immersive, blockbuster-inspired experiences by lining vast, cylindrical chambers with enormous displays through his business, the London Tunnels Ltd. He wants to work with Hollywood studios like Warner Bros. Discovery and Amazon.com Inc., which now owns the James Bond franchise.
The UK’s deepest pub is one of the historical elements he wants to preserve. Later, they ensured that the first trans-Atlantic telephone line remained operational so that diplomatic emergency calls could be transmitted during the Cold War.
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The tunnels were put up for sale by BT roughly 15 years ago. He invested about £12 million of his own money and additional funding from his private equity company, which operates under the name of his fund, Castlestone Management LLC, to purchase them.
Initial Phase Will Cost £40 Million
It will cost around £40 million to complete the “up to construction” phase, which will take place until the end of the following year. According to him, he has obtained investor commitments for that project. The tunnels will then need to be outfitted with contemporary conveniences and a shell that complies with health and safety regulations.
This will add another £100 million to the expense. The architects at Wilkinson Eyre Ltd., who recently completed the £9 billion renovation of London’s Battersea Power Station, have been hired by him.
By 2027, an additional £80 million will be required to complete the project. He hopes to partner with manufacturers like Samsung Electronics Co. or LG Corp. In addition to entertainment firms like Walt Disney Co. Further, he claims to have already begun having those chats.
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According to him, there is space in the tunnels for eight times as many screens as the well-known billboard that dominates London’s Piccadilly Circus intersection.
Cover Image Courtesy: Wikimedia & James Bond 007/ Instagram