Google Pays $1 Billion for London Office Building

5 days ago 25
The company’s acquisition  of a gathering  it had been leasing is portion  of a inclination   of net  giants buying existent  estate. 
Credit...John Sibley/Reuters

Adam Satariano

  • Jan. 14, 2022Updated 9:01 a.m. ET

Google said Friday that it would walk $1 billion to acquisition a London bureau building, making it the proprietor of different high-priced portion of existent property arsenic the net elephantine bets connected an eventual instrumentality to bureau for its employees astir the world.

The institution said it would bargain a gathering successful London’s West End wherever it had already been leasing bureau space. The acquisition is connected apical of another $1 cardinal that Google is estimated to beryllium spending to conception an 11-story, one-million-square-foot gathering little than 2 miles distant that looks similar a horizontal skyscraper and volition person a rooftop plot and moving track.

The purchases successful London, 1 of the world’s astir costly cities for existent estate, volition springiness Google the capableness to clasp up to 10,000 employees crossed Britain.

The world’s largest tech companies person utilized flush equilibrium sheets to go large buyers of planetary existent estate. In September, Google announced it would walk $2.1 billion connected a Manhattan bureau building. Apple, Meta and Amazon person besides been buying up spot successful the United States and abroad.

Google said the acquisition of the London bureau is portion of a broader imaginativeness for a “flexible workplace,” wherever radical tin enactment from location and walk a fewer days per week successful the office.

The investment, Google said successful a blog post, “represents our continued assurance successful the bureau arsenic a spot for in-person collaboration and connection.”

Read Entire Article