Internet search giant Google is reportedly planning to establish a new headquarters in the United Kingdom.
According to the most recent speculation, Google may spend upwards of $1 billion to develop the facility. Reuters noted Friday that this investment is just the latest significant overseas property deal on the company’s plate.
Google has purchased a 2.4 acre plot at the Kings Cross Central development, one of London’s biggest regeneration schemes, where it will build a 1 million square foot office, the property developers behind the project said on Thursday without disclosing the purchase price.
But the potential headquarters in question may not be ready for Google to move into for another three years. Construction, however, is set to commence later this year.
“This is a big investment by Google, 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,” Matt Brittin, Google’s VP for Northern and Central Europe, said this week.
Google’s present British stations are located in the UK capital’s Victoria and Holborn districts.