Goldman Sachs has agreed a deal for a permanent office in Birmingham after first coming to the city a year ago. The investment bank and financial management firm has signed up for 110,000 sq ft of space at One Centenary Way, representing nearly half of all the available accommodation at the 280,000 sq ft building.
The new hub will cover five floors of the 13-storey building, including a roof terrace overlooking Centenary Square, and have space for more than 1,000 people in future years if required. One Centenary Way, which topped out in March and is due for completion in early 2023, is the latest office block to be constructed at the £1.2 billion Paradise scheme in Chamberlain Square.
Goldman Sachs launched a new team in the city in September last year at the WeWork flexible office hub in Colmore Row, initially just covering engineering services. Since then, it has filled nearly 250 new positions there, across functions including human capital management, legal, audit and workplace solutions.
The firm said it was expecting to hire several hundred more employees in the years ahead.
Head of the Birmingham office Gurjit Jagpal 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 which is leading the Paradise scheme, added: "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 of inward investment agency 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."
Property agency JLL acted for Goldman Sachs on the lease deal, whose Midlands director Kelvin Craddock said: "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 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."
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