Google Shows Confidence in Office with $ 1 Billion London Transaction


London — Technology giant Google has spent $ 1 billion to buy a building in central London, which is now a tenant, showing confidence in the future of the office as a workplace, the company said Friday.

With 6,400 employees in the UK, Google plans to refurbish millions of pounds of offices in Central St. Giles development to buy near Covent Garden in central London.

Ruth Porat, CFO of Google’s parent company Alphabet, said:

Google said the UK site will eventually be able to accommodate 10,000 workers, including those being developed in the Kings Cross region near London.

Google said last month that it has postponed plans to return to the office globally amid growing concerns about the Omicron variant of the coronavirus.

Central St. Giles Building was owned by a joint venture between Legal & General Investment Management Real Assets and Mitsubishi Estate London Limited.

Keith Weir

Reuters

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