Google buys new office in London for $1 billion

• The tech giant aims to accommodate 10,000 staff in the UK, up from the current 6,400

• Google plans to give the site a multi-million-pound overhaul for flexible working patterns

Alphabet Inc. (NASDAQ: GOOG), which owns tech giant Google, bought a plush new office space for a billion dollars in London on Friday but stressed on its plans to remain committed to a hybrid working model amid the pandemic.

The internet giant announced Friday that it has acquired all of the Central St. Giles building, where it already occupies several floors, in London’s West End.

Return to office

Google said it would give the site a multi-million-pound overhaul for flexible working patterns, including outdoor workspaces.

The company still expects nearly one-fifth of its workforce to continue working remotely due to the pandemic.

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In a blogpost, vice president and managing director of Google U.K. and Ireland, Ronan Harris, said, “Our investment in this striking Renzo Piano-designed development represents our continued confidence in the office as a place for in-person collaboration and connection.”

Google’s latest real-estate purchase is part of Google's broader expansion in central London while aiming to eventually accommodate 10,000 staff in the UK, up from the current 6,400.

Official welcome

The U.K. government welcomed the latest expansion move in a bid to retain large companies after Brexit.

Finance minister Rishi Sunak said the investment in jobs from Google is a big vote of confidence in the UK as a world-leading tech hub. "It is also proof that this country continues to be one of the most attractive places in the world for leading firms to grow their business," he said. 

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With inputs from CNBC  

Picture Credits: FT