Goldman Sachs Leases Permanent Office Location in Birmingham, UK
BIRMINGHAM, UK, 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, part of MEPC’s £1.2 billion 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, 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 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.”
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.”
Further Details on One Centenary Way
Designed by Glenn Howells Architects, One Centenary Way is a 68-metre tall, 13 storey, 280,000 sq ft commercial building with office, leisure, bar and restaurant uses on the ground floor.
The basement of the building will feature Birmingham’s first dedicated cycle hub with space for 330 bikes, showers and maintenance facilities, all available to the public as well as Paradise occupiers.
A large gym and wellness centre will also be located on the lower ground floor, overlooking the new Western Terrace public realm being created as part of the next phase of development.
One Centenary Way and the rest of the Paradise redevelopment is being brought forward through Paradise Circus Limited Partnership (PCLP), a private-public joint venture with Birmingham City Council.
The private sector funding is being managed by the international business of Federated Hermes, which has partnered with Canada Pension Plan Investment Board (CPP Investments) on the first phase of the development and for One Centenary Way, the 280,000 sq ft first part of Phase Two. MEPC is the development manager.
About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
About Federated Hermes
Federated Hermes, Inc. is a leading global investment manager with $669 billion in assets under management as of December 31, 2021. Guided by our conviction that responsible investing is the best way to create wealth over the long term, our investment solutions span equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies. Providing world-class active investment management and engagement services to more than 11,000 institutions and intermediaries, our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes’ nearly 2,000 employees include those in London, New York, Boston and offices worldwide.
A wholly owned subsidiary of Federated Hermes, MEPC is a team of people-focused property professionals, creating destinations where communities can flourish. Our place-making skills include site acquisition, strategic marketing, planning, development, and asset management.
The portfolio is home to over 350 organisations and over 12,000 people, occupying over 4m sq ft of high-quality buildings, set in 650 acres of land, including Paradise Birmingham.
West Midlands Growth Company
The West Midlands Growth Company helps the region make its mark nationally and internationally. Its primary purpose is to attract investment, jobs, visitors and businesses to the West Midlands. The West Midlands Growth Company plays an important role in supporting the delivery of the West Midlands Combined Authority’s (WMCA) Strategic Economic Plan. Its focus is on the WMCA geography of Greater Birmingham and Solihull, Coventry and Warwickshire, and the Black Country.
Goldman Sachs International
Plumtree Court | 25 Shoe Lane | London | EC4A 4AU
Tel: +44 (0) 20 7774 2523
Executive Director, Corporate Communications
Tel: +44 (0) 7531 700 113