Investment bank signs deal for 110,000 sq ft office at Paradise Birmingham

Goldman Sachs has signed a long-term lease agreement for a 110,000 sq ft permanent office space at One Centenary Way, part of MEPC’s £1.2bn Paradise Birmingham development.

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 staff, with optionality to accommodate more than 1,000 people in future years if required.

Due for completion in early 2023, One Centenary Way is one of Birmingham’s most sustainable buildings with a pure electric heating and hot water supply system and cutting-edge technology, services and amenities.

Since opening its first office in Birmingham in September 2021, Goldman Sachs has created almost 250 new jobs in the city. The firm expects to hire several hundred more employees in the years ahead, predominantly from the region.

Gurjit Jagpal, managing director and head of the Birmingham office at Goldman Sachs, said: “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.”

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.”

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.”

Kelvin Craddock, director – tenant representation for JLL in the Midlands, who advised Goldman Sachs, said: “We have been proud to support Goldman Sachs on their long term lease in Birmingham, having first advised them on their flexible space last year as they began to establish a presence in the city.

“This is one of the most significant examples of inward investment that the city has benefitted from in the last few years and the knock-on effect cannot be overstated. The fact that the business can see the potential for growth and is keen to invest here on such scale shines a significant spotlight on our city and its growing status as a key location for global firms.”