Google spends $1 bn on its new London office

Tech major Google told the media that it has spent $1 billion to purchase a central London building where it is presently a tenant, displaying its confidence in the future of the office as a place to work. Google, which employs 6,400 people in Britain, aims a multi-million-pound refurbishment of its offices within the Central Saint Giles development it is purchasing, close to Covent Garden in central London. Ruth Porat, CFO of Google's parent company Alphabet, told the media that they have been privileged to work in the UK for about 20 years, and their acquisition of the Central Saint Giles development reflects their continued commitment to the nation's development and success. Google aims to refit the building for in-person teamwork and has meeting rooms for hybrid working and generating more space for individuals. The new refurbishment will additionally feature outdoor covered working spaces to allow work in the fresh air, the firm told the media. Google said it would ultimately have the capacity for 10,000 workers at its UK sites, comprising one being built in the nearby King's Cross area of London. Google said last month that it was postponing its return-to-office plan globally amid increasing problems over the Omicron variant of the Covid-19. The Central Saint Giles building had been held by a joint venture (JV) between Legal & General Investment Management Real Assets and Mitsubishi Estate London Limited. Image Source Also read: Flexible leases will be a boon in the post-pandemic market