Google has spent $1 billion (€750m) buying a 2.4 acre plot in central London where, the company told Reuters, it plans to build a new million square-foot UK HQ by 2016. Construction starts later this year and the facility is due for completion in 2016.
“This is a big investment by Google,” said Matt Britin, Google’s VP for Northern and Central Europe. “We’re committing further to the UK — where computing and the web were invented. It’s good news for Google, for London, and for the UK.”
And a nice tax move for the enormously cash rich company whose massive property investment means the money doesn’t have to be sent back to the parent company in the US where tax would be due.