Google spends $1 billion for new London headquarters

Last weekend, Google was busy sinking $200 million into a Texas wind farm. This week, the giant is busy securing a new UK headquarters in central London. It started by spending a cool $1 billion on a 2.4-acre plot to build said headquarters. Not sure if you're aware, but Google has a lot of dough.

The headquarters, which are expected to be finished in 2016, will consist of a 1 million square foot office building. The building itself is predicted to be valued at $1.6 billion. Construction will be later this year.

"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."

There's speculation the move was made for tax purposes, since it won't have to send its cash holdings back to the US, where they'd be taxed.

Via The Verge

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