Ecclesiastical Insurance, the listed insurance company, has confirmed it will build a new 125,000 sq ft head-quarters in Gloucester’s Southgate Moorings.
The company, which has 650 staff based in Gloucester, will spend £20m developing the new offices.
Ecclesiastical decided to relocate to the site, which is next to the new Gloucester Quays designer outlet centre, due to open in spring 2009, following consultation with staff who voted for a move to a city centre location.
Chris Oldershaw, chief executive of the Gloucester heritage urban regeneration company said the move was a vote of confidence in the ongoing £1bn regeneration of Gloucester city centre.
Ecclesiastical, which employs 900 staff across the UK and has offices in Canada, New Zealand and Australia, expects to complete the office by 2011.