Google has invested $1 billion (7500 crore) to acquire a central London building where it is already a renter in a sign of confidence in the future of the office and to extend its investments in the country, the firm announced on Friday. The company also stated that the new renovation will include outside covered working spaces, allowing staff to work outside in the fresh air.
“We’ll be bringing new types of collaborative spaces for in-person interaction, as well as greater overall space to boost wellbeing,” says the company. We’ll present team pods, which are adaptable new space types that may be set in a variety of ways to facilitate concentrated work, collaboration, or both, depending on the needs of the team.
The new renovation will also include outside covered working spaces, allowing employees to work outside in the fresh air” ,according to the firm. Google also aims to renovate the building so that it is better suited for in-person teamwork and includes meeting rooms for hybrid working, as well as extra space for individuals.
Google spends a lot of money on perks and benefits for its staff over a regular year at the office. Spas, catering, and corporate getaways are just a few of the items that Google has turned into savings opportunities now that workers who work from home no longer have to pay for them. Google may no longer be able to save money as it reopens its doors to its employees, who will be returning to physical workplaces.
Chief Financial Officer Ruth Porat has spoken of her company’s ambitions to implement a mixed work paradigm when the epidemic in the United States stabilizes and vaccine efforts continue.
Employees will have the choice of working from home and the office, as well as a larger radius of personal space within offices, under this paradigm.
Google has been based in the Central Saint Giles development near Covent Garden for nearly two decades, and the computer giant, which employs 6,400 employees in the UK, is planning a multi-million pound refurbishment of its premises. “We have been privileged to operate in the UK for nearly 20 years, and our purchase of the Central Saint Giles development reflects our continuous commitment to the country’s growth and success,” said Ruth Porat, CFO of Google’s parent company Alphabet.
A joint venture between Legal & General Investment Management Real Assets and Mitsubishi Estate London Limited held the property.
“As we continue to commit to the UK’s growth and success, Google will have capacity for 10,000 employees across all of our UK facilities,” the business said. This involves the development of our new King’s Cross, which is currently under construction.”