LONDON - Google Inc is developing a new UK headquarters which could be worth as much as 1 billion pounds (US$1.6 billion) when finished, the latest overseas property deal for the cash-rich US Internet group.
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.
A separate source with knowledge of the deal said Google was investing 650 million pounds to buy and develop the site. The office building will be worth up to 1 billion pounds when it is finished in 2016, a second source said.
"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," Google's vice-president for Northern and Central Europe, Matt Brittin, said in a statement.
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