Google sparks jobs hope with €65m office purchase
Published 07/01/2014 | 02:30
GOOGLE will buy one of the biggest office blocks in Dublin, as it continues to copper-fasten its presence in Ireland.
The tech giant has agreed terms to buy the Grand Mill Quay building in Dublin's Docklands from NAMA for €65m.
Google already occupies about a fifth of the office building, but is now expected to take up much more of that space.
The company has its European headquarters in the adjacent building, Gordon House.
This is the fourth building it has bought in the capital, where it employs more than 2,500 people.
In 2011 it spent more than €226m on three surrounding buildings.
The move was immediately seen as an endorsement of Ireland by Google, where it has steadily built up a presence since 2002.
The company has been under severe pressure in recent months for how it manages its tax affairs, particularly in the UK. While it has an enormous presence in London, yesterday's deal will encourage the hope that Google may move more functions to Dublin, and bring more jobs in the process.
The Grand Mill Quay building was one of four being sold by NAMA. Blackstone has agreed terms to buy the remaining three buildings for €100m.