Google has bought Renzo Piano’s 11-storey Central Saint Giles development in central London which contains some of its UK offices for £730m ($1bn).

The tech giant, which already rents around 40% of the brightly coloured building near Oxford Street, has agreed a deal to buy it from Legal & General Group and Mitsubishi Estate.

The £130bn-turnover company said the investment reflects its “continued confidence in the office as a place for in-person collaboration and connection”.

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