Google is building a new headquarters in London’s Kings Cross, valued at around £1bn, as the US-based Internet giant looks to expand its European operations. Google will move from its current offices in the UK capital’s Victoria and Holborn districts in 2016 when the building completes. “This is a big investment by Google, we’re committing […]
Google is building a new headquarters in London’s Kings Cross, valued at around £1bn, as the US-based Internet giant looks to expand its European operations.
Google will move from its current offices in the UK capital’s Victoria and Holborn districts in 2016 when the building completes.
“This is a big investment by Google, we’re committing further to the UK – where computing and the web were invented,” Google’s Vice President for Northern and Central Europe, Matt Brittin, said in a statement. “It’s good news for Google, for London and for the UK.”
The HQ will span 2.4 acres in the heart of London. The headquarters, which consolidates two existing buildings, and is expected to be completed in 2016.
The complex will include a seven-storey building and an 11-storey building.
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.
In 2011, Google purchased Dublin’s tallest commercial office block, the 15-storey Montevetro office building on Barrow Street, for €99.9m.
It followed this up with the additional acquisition of the buildings that housed its EMEA headquarters, where the majority of its existing 2,000 staff have been based since 2004.
As of December 31, 2011, Google has $44.6 billion of cash, with $21.2 billion of that held offshore, according to its 2011 annual report.
