Google shows confidence in work from the office with $1 billion deal in London

Tech giant Google has spent $1 billion (approximately Rs. 7,410 crore) to buy a building in central London where it is currently a tenant, showing its confidence in the office’s future as a place to work , the company said on Friday.

Google, which employs 6,400 people in the UK, is planning a multimillion-pound refurbishment of its offices in the Central Saint Giles project it is buying, close to Covent Garden in central London.

“We have had the privilege of working in the UK for nearly 20 years, and our purchase of the Central Saint Giles development reflects our continued commitment to the growth and success of the country,” said Ruth Porat, CFO of Google’s parent company Alphabet .

Google plans to redecorate the building to accommodate personal teamwork and have meeting rooms for hybrid work, as well as to create more space for individuals.

The new renovation will also include covered outdoor workspaces for working in the fresh air, the company said.

Google said it would eventually have capacity for 10,000 workers at its UK sites, including one being developed in the nearby King’s Cross area of ​​London.

“This investment in Google’s jobs is a great vote of confidence in the UK as a leading technology hub,” Finance Minister Rishi Sunak said in a statement.

Google said last month it was delaying its return-to-office plan globally due to growing concerns about the Omicron variant of the coronavirus.

The building in Central Saint Giles was owned by a joint venture between Legal & General Investment Management Real Assets and Mitsubishi Estate London Limited.

© Thomson Reuters 2022

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