Google mentioned Friday that it might spend $1 billion to buy a London workplace constructing, making it the proprietor of one other high-priced piece of actual property because the web large bets on an eventual return to workplace for its workers all over the world.
The corporate mentioned it might purchase a constructing in London’s West Finish the place it had already been leasing workplace area. The acquisition is on high of one other $1 billion that Google is estimated to be spending to assemble an 11-story, one-million-square-foot constructing lower than two miles away that appears like a horizontal skyscraper and may have a rooftop backyard and working monitor.
The purchases in London, one of many world’s most costly cities for actual property, will give Google the capability to carry as much as 10,000 workers throughout Britain.
The world’s largest tech corporations have used flush stability sheets to turn out to be main patrons of world actual property. In September, Google introduced it might spend $2.1 billion on a Manhattan workplace constructing. Apple, Meta and Amazon have additionally been shopping for up property in america and overseas.
Google mentioned the acquisition of the London workplace is a part of a broader imaginative and prescient for a “versatile office,” the place folks can do business from home and spend just a few days per week within the workplace.
The funding, Google mentioned in a weblog publish, “represents our continued confidence within the workplace as a spot for in-person collaboration and connection.”