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Shape Of Things To Come? Goldman Sachs Team Up With WeWork For Birmingham Debut

55 Colmore Row

Goldman Sachs has touched down in Birmingham, taking a 150-desk contract with WeWork ahead of the 2023 selection of a permanent base.

The move is yet another sign that hybrid working and flexible floorspace will be the future of the office market, even for those blue-chip occupiers that were once its mainstay.

The investment bank's engineering division will take 11.5K SF with the option to add more, a WeWork spokesperson told Bisnow.

The deal for a full floor at WeWork’s 55 Colmore Row comes rapidly after the bank’s April announcement that it planned to relocate technical teams to Birmingham.

This is the second major financial services sector partnership WeWork has secured in the UK region, and it is a sign that big-name occupiers are increasingly comfortable with flexible floorspace. In November 2020 Deloitte agreed to occupy 35K SF at WeWork’s Hanover Building, Manchester.

In Birmingham Goldman Sachs has signed a membership agreement for a term of two years, with an option to take additional space if required. Employees are expected to be on-site at the Colmore Row office by September 2021.

The Goldman Sachs presence will eventually number several hundred, a statement said.

WeWork 55 Colmore Row covers three of the six floors in the building totalling 55K SF. On-site amenities include a barista bar, new parents' room, bike storage, and showers for those who like to cycle into work, or attend a fitness class at lunchtime.

“The central location, amenities and workspace geared towards collaboration and flexibility will provide the ideal setting for our newly established presence in Birmingham and springboard for our ambitions in the city. We are already attracting great talent to join us in the Birmingham office and are excited to build on the entrepreneurial culture of Goldman Sachs in this new office,” Goldman Sachs Managing Director and head of the new Birmingham office Gurjit Jagpal said.

“We’re seeing increasing demand from companies across the financial services sector who are recognising the benefits of scalable, flexible space in creating engaging, collaborative workspaces for today's increasingly hybrid working environment,” WeWork Global Head of Financial Services Sales Nick Giraudeau said.