Google spends $1billion on London site

Google has spent $1 billion to buy a central London building, Reuters reports.

Google is currently a tenant in the building.

Google plans a multi-million pound refurbishment of its offices within the Central Saint Giles development it is buying, Reuters added.

The Central Saint Giles is close to Covent Garden in central London.

The building had been owned by a joint venture between Legal & General Investment Management Real Assets and Mitsubishi Estate London Limited.

Google plans to refit the building so it is adapted for in-person teamwork and has meeting rooms for hybrid working, as well as creating more space for individuals.

The new refurbishment will also feature outdoor covered working spaces to enable work in the fresh air, Reuters quotes Google.