Google has a lot of cash at hand and, even with acquisitions and investing in green energy, there's still a lot of it going around. Rather than let it rot in a bank, Google does what many people do with their money, it buys a house. Well, more than one actually and this time around it's actually building it, but the point remains.Google is investing in a new headquarters in London, it bought some land at King's Cross in north London and will build seven 11-story-high buildings there, with 1 million square feet, 93,000 square meters of office space.
The site is about 2.4 acres (9,700 square meters) across, Google will be one of the biggest companies to move to the location which is currently undergoing a redevelopment phase. Other companies are investing in the area, but Google's purchase is the biggest.
The entire project, by the time buildings are finished in 2016, will have cost Google an estimated £1 billion, or $1.6 billion/€1.2 billion. Google currently has offices in the Victoria and Holborn districts, but will move its employees once the new headquarters are complete.
A couple of years ago, Google made a similarly high investment in New York, where it bought one of the largest buildings there.