Google’s Office Search ends in Dublin
Global internet search and technology giant Google has agreed to buy a new office in Dublin for Γé¼99.9m – equivalent to approximately ┬ú84m – in the city’s Grand Canal Dock district.
Said to be one of Ireland’s largest property deals since the financial crisis started, the transaction will see Google staff occupy Dublin’s tallest office building and consolidate several teams which are located in other areas of the city, including its European headquarters on Barrow Street.
The 220 ft high Montevetro building, which was completed last month, has 210,000 sq ft of prime office space spread across 15 floors and can house around 2,000 staff.
According to online reports, Google Ireland boss John Herlihy said that the new building will enable the team to “have the space and flexibility to support our future operations.”
Real Estate Opportunities PLC (REO), which is connected to the building’s developer Treasury Holdings (the company behind Battersea Power Station), sold the building in conjunction with Ireland’s National Asset Management Agency – a government-owned body that helped to fund the property’s development when the recession hit.
Commenting on the transaction, Chairman of REO Ray Horney said in a company press release:
“We are very pleased to be able to announce Google’s purchase of Montevetro, Dublin’s tallest commercial office building. REO’s stated strategy is to develop high quality, commercial real estate in well located areas.
“The transaction is one of the largest sales of commercial property in Ireland in several years and the company believes it has achieved a very good price in the current market environment. Google is an iconic name globally and its decision to buy Montevetro is good news for Ireland and we wish them every success in their new home.”
Discussions between Treasury Holdings and Google about occupation of the property started in early 2010, initially with the intention of Google leasing the office, but this changed late last year when the decision was made to buy the building outright.
Google currently has 1,700 people working in Dublin but reports suggest that the corporation is planning to expand its presence in the European Union.
Owned and operated by California-based Google Inc., a multinational corporation founded by Larry Page and Sergey Brin, Google Search receives several hundred million queries and searches every day and provides many different features to enhance the search experience – ranging from weather forecasts and time zones, to conversions and sports scores.
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