Global giants Google have just announced they are to invest $1 billion dollars into it’s new UK headquarters. They have purchased a 2.4 acre plot of land in London’s King Cross Development where they plan to build a 1 million-square-foot-office.
Google’s Vice President for Northern and Central Europe Matt Brittin said – “This is a big investment by Google, we’re committing further to the UK – where computing and the web were invented. It’s good news for Google, for London and the UK.
The project is to be started this year, with estimated completion in 2016. The building will range from 7-11 stories in height. The new development is said to be part of an effort to expand it’s operations rather than just a cosmetic upgrade.
While Google traditionally lease office properties overseas, the decision to buy as opposed to rent does appear to be tax motivated. If Google put their cash back into the U.S they are viable for a hefty tax bill.
Lets just hope they pay their UK tax!