In what is the largest West End office deal on record internet giant Google has acquired the iconic Central Saint Giles office development in London’s West End. Currently a tenant in the building, the move is a joint venture between Legal & General and Mitsubishi Estate London.
The architecturally striking building comprises 408,000 sq ft of office space with 25,000 sq ft of restaurants and cafes at ground floor level. The building is highly sustainable, benefiting from an in-use BREEAM Excellent rating. At the western end of the site, two residential buildings contain a mix of 109 private, affordable and social apartments. The long leasehold interests of the residential buildings continue to be owned and managed by the existing owners.
Google said this investment represents its continued confidence in the office as a place for in-person collaboration and connection.
“We have been privileged to operate in the UK for nearly 20 years, and our purchase of the Central Saint Giles development reflects our continued commitment to the country’s growth and success. Our focus remains on creating flexible workspaces that foster innovation, creativity and inclusivity. We look forward to deepening our connection to the UK as we build for the future of work,” said Ruth Porat, SVP and CFO of Google and Alphabet.
“Building on our long-term commitment to the UK, we are purchasing the Central Saint Giles development – the site many Googlers have long called home – for $1 bn (£762.5m). Our investment in this striking Renzo Piano-designed development in London’s thriving West End represents our continued confidence in the office as a place for in-person collaboration and connection.
“Across all our UK sites, Google will have capacity for 10,000 employees as we continue to commit to the UK’s growth and success. This includes our new King’s Cross development, which is under construction,” added Ronan Harris, vice president and managing director of Google UK & Ireland.