Goldman Sachs' 110,000-square-foot letting at the One Centenary Way offices will "continue to have an exponentially positive effect on the the vibrancy and economic success of Birmingham", judges of the CoStar Impact Awards said, as they crowned the transaction Lease of the Year for West Midlands.
The agreement by the US bank to take five floors will see it move more than 1,000 staff into the building, one of the flagship structures at the heart of development MEPC’s £1.2 billion Paradise Birmingham scheme.
Its long-term lease was a massive boost for the Midlands office market, with large deals hard to come by in 2023 as firms continued to "rightsize". This has involved many tenants taking smaller offices at higher quality properties in the city.
Around a year before the deal, Goldman Sachs signed a two-year agreement for circa 55,000-square-feet of flexible space at WeWork's offices in 55 Colmore Row, as the firm finalised its decision on a long-term home in Birmingham.
About the Project: One Centenary Way, comprising circa 275,000 square feet of workspace, is a new landmark for the city centre. It overlooks Centenary Square and was completed last year.
The low carbon, all electric and highly-sustainable structure was designed by Birmingham based architects, Howells, with engineering input from Arup, which occupies around 68,000 square feet within the building.
The basement of the building features Birmingham’s first dedicated public cycle hub with space for 312 bikes, showers, storage and maintenance facilities.
What the Judges Said: Charles Warrack, partner at Fisher German, said: "This letting has and will continue to have an exponentially positive effect on the the vibrancy and economic success of Birmingham. Goldman Sachs is investing significantly in Birmingham, with diverse and talented personnel; the majority locally recruited, will further cement Birmingham as a 'best-in-class' city.
"The design and ESG credentials of the tenant space are second to none. The letting has given a significant 'shot in the arm' to the central Birmingham office market, which was badly needed post COVID-19."
They Made It Happen: Kelvin Craddock, director of national office agency at JLL.