According to a joint statement issued, Google has purchased a 2.4 acre plot of land in London on which to construct a brand new base for their UK operations. Construction on the new, 1 million square foot headquarters in London is scheduled to begin by the end of 2013 subject to approval, with staff moving in sometime in 2015.
The move represents a huge investment from Google, not just financially, but in reviving part of London. The new site, located next to Kings Cross railway station, is being revived as part of a plan to create 67 acres of land filled with homes, offices and retail space.
The deal is reportedly worth £1 billion, and will see Google amalgamate their two current London offices in Victoria and on St Giles High Street into one. The other Google offices in Manchester will reportedly remain.
In the statement issued, Matt Brittin, VP of Google for Northern and Central Europe said:
“This is a big investment by Google. We’re committing further to the U.K. -- where computing and the web were invented. It’s good news for Google, for London and for the UK"
At a time when so many UK based businesses are facing difficult times, the investment from Google is extremely important. Equally important will be Google's increased presence in the UK.