Goldman Sachs agrees permanent office location in Colmore Business District

28 September 2022

Goldman Sachs has reached a long-term lease agreement for a 110,000 sq ft permanent office space at One Centenary Way.

The new office space comprises five floors of the building, including a roof terrace overlooking Centenary Square. The office will have space for a headcount of several hundred, with optionality to accommodate more than 1,000 people in future years if required.

Due for completion in early 2023, One Centenary Way is part of MEPC’s £1.2 billion Paradise Birmingham development.

It will be one of Birmingham’s most sustainable buildings with a pure electric heating and hot water supply system and cutting-edge technology, services and amenities.

Andy Street, Mayor of the West Midlands, said: “When a global employer of the stature of Goldman Sachs first established their presence here in the West Midlands, that decision represented a real vote of confidence in our region’s local talent, infrastructure and economic prospects.

“I’m so pleased that Goldman have now invested in this world-class office space in the very heart of Birmingham city centre and wish them all the best in the coming weeks, months and years. They were an early leader in seeing the potential we have to offer and I’m sure many more companies will follow in their footsteps.”

Since opening its first office in Birmingham in September 2021, Goldman Sachs has filled nearly 250 new positions in the city, across functions including Engineering, Human Capital Management, Legal, Audit and Corporate and Workplace Solutions. The firm expects to hire several hundred more employees in the years ahead, predominantly from the region.

In their first year, teams based in Birmingham have already been leading on global projects and innovations for the firm, making significant commercial contributions.

Gurjit Jagpal, Managing Director and Head of the Birmingham Office at Goldman Sachs, said: “The quality, depth and breadth of Birmingham’s talent pool has exceeded expectations in our first year in the city. This new office space will be perfectly suited to our collaboration, flexibility and growth requirements in the years ahead. We are excited to cement and grow our position as an important employer and member of the business community in the city and the region.”

Neil Rami, Chief Executive at West Midlands Growth Company, said: “I’m delighted we have been able to support Goldman Sachs’ growth ambitions in the West Midlands. Their commitment to Birmingham is an international endorsement of both the quality of our local tech talent and a testament to the supportive business ecosystem here.”

Rob Groves, regional development director at MEPC, the commercial property development and asset management arm of Federated Hermes, said: “‘The arrival of Goldman Sachs in Birmingham is gathering momentum with the firm’s choice of One Centenary Way for its new home in the city. This is a major deal for Paradise, for the city and for the region, bringing a large number of highly skilled jobs into the city centre with one of the world’s leading investment banks. Goldman Sachs’ choice of One Centenary Way reinforces the status of this building as the city’s most prestigious and sustainable business address.”

Image courtesy of Invest in the West Midlands