Google Spends $1 Billion On An Entire Building In Central London

Alphabet Inc. subsidiary Google just bought an eye-catching building in central London for $1 billion, symbolizing its belief in its future as a workspace. It had already occupied a few spaces in the building prior to the purchase.

The acquisition gives the tech giant a major presence in the U.K. capital. According to Reuters, Google employs 6,400 people in Britain and it intends to refurbish the space so it is better suited for in-person cooperation. It will also implement rooms for hybrid workers as tech employees have increasingly expressed their desire to work remotely.

Google said it's aiming to account for 10,000 employees at the U.K. sites as soon as existing construction and renovation projects have concluded.

Vice president and managing director of Google U.K. and Ireland Ronan Harris said in a blog post that the purchase “represents our continued confidence in the office as a place for in-person collaboration and connection,” CNBC reports.

Alphabet CFO Ruth Porat emphasized Google’s commitment to operating in the U.K., saying to Reuters, “our purchase of the Central Saint Giles development reflects our continued commitment to the country's growth and success."