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Google buys London site for $1 billion -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This is the logo of Google LLC, which can be seen in Manhattan’s Google Store Chelsea on November 17, 2020. REUTERS/Andrew Kelly

LONDON, (Reuters) – Tech company Google spent $1 billion on a London office building that it was a tenant in, proving its faith in the future viability of the space as a workplace, Google said Friday.

Google in Britain employs 6,400 people. Google plans to renovate its offices in Central Saint Giles, a development located near Covent Garden and central London.

“We are privileged to have operated in the UK over the past 20 years and the purchase of Central Saint Giles Development reflects our continuing commitment to growth and success of the country,” Ruth Porat (NASDAQ:) said.

Google intends to renovate the building in order for it to be adapted for teamwork, hybrid work and meeting rooms.

According to the company, outdoor covered work spaces will be included in the new renovation. This will allow for fresh air and enable employees to get their jobs done.

The building had been owned by a joint venture between Legal & General Investment Management Real Assets and Mitsubishi Estate (OTC:) London Limited.

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