INDUSTRY NEWS

Google set to buy land for new King’s Cross London offices

Not satisfied with its London offices at Central St Giles in Soho, at 123 Buckingham Palace Road in Victoria, and its Campus in East London’s Tech City, tech giant Google is on the verge of sealing a deal that will enable it to build a new UK headquarters.

In a deal worth around £550 million, Google is on the verge of acquiring a piece of land in King’s Cross on a 999-year lease. The plot measures 700,000 sq ft and Google  is hoping that the deal will be completed before November 22 (2012). Property Week has reported that the deal, if it goes through, will be one of the largest occupational and investment deals in UK history.

Providing the deal goes through, the search engine giant is expected to make the move to the new offices in three years (2015).

Mayor of London Boris Johnson’s previous claim that the addition of big companies from the technology world would “propel London well up the league table of global tech cities” could be enhanced further with this coup.

Speaking at the grand opening of Google’s London Campus earlier this year, chancellor George Osbourne stated that the opening of that particular Google building would enable the UK to develop and become “the technology centre of Europe.”

Since its opening the Google Campus has proven to be very successful. Offering free desk space, as well as invaluable mentoring, it has attracted many small start-ups. Initially only open to companies from London, Google announced that it would allow firms from across the UK to use the facility in July.

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