Google To Build New Headquarters In London

Google To Build New Headquarters In London

Google has completed a US$ 1.6 billion deal to build a new UK headquarters on 10 thousand square meters of disused land behind King's Cross Station, underlining the global technology industry's commitment to London, reported The Financial Times.

The internet search group confirmed that it would start building a new 11 storey office block on the site, which it would use to consolidate operations from its existing offices in London. The land was acquired from the Kings Cross Central Partnership. As reported Reuters Google was investing US$ 1 million to buy and develop the site. The office building will be worth up to US$ 1.6 when it is finished in 2016.

The deal, one of the most valuable property transactions in the UK since the start of the financial crisis, follows a string of high-profile moves by technology groups, including Skype, Oracle and Amazon, to take up office space in the UK capital.

Matt Brittin, vice-president for northern and central Europe at Google, said: "This is a big investment by Google, we're committing further to the UK - where computing and the web were invented. It's good news for Google, for London and for the UK."

Google's London staff are currently split between two offices in Victoria and one in Holborn. The move will allow the company to house all London staff under one roof. The company plans to keep its office in Manchester. Google also operates Campus, a seven-storey centre in Shoreditch that offers work spaces to technology and media start-ups as part of London's Tech City project.

Google has traditionally leased its overseas offices but in the past two years has purchased premises in Paris, Dublin, and now London, its filings show.