Technology giant Apple has announced today that it will create a new headquarters in London’s Battersea Power Station.
The move will concentrate the company’s 1,400 London staff into one office, taking up 40% of the space in the landmark Grade II listed building, which has been undergoing a multibillion-euro renovation over the last few years.
The announcement comes at a time of uncertainty in both British and Irish foreign investment following the Brexit referendum in June, and only one month after the European Commission ruled that Apple must pay €13bn in overdue tax to the Irish government, a figure equal to the entire healthcare budget.
The government has already announced that it will appeal the Commission’s ruling, amid concerns that it could impact upon other large foreign firms with headquarters in Ireland, many of whom are attracted by the corporation tax rate of 12.5%, one of the lowest rates in the developed world.
Apple currently employs around 6,000 people across the country, while the technology sector directly employs over 105,000 people, over 75% of which are employed by multinational companies.
The iPhone manufacturer has previously warned about the impact the decision of the European Commission on US investment in Europe, but has declined to specify how the company’s Irish operations could be affected.
A spokesperson for Apple called the Battersea move a “great opportunity” for the company.