Stoke-on-Trent Regeneration, the joint venture between St Modwen Properties and Stoke City Council, is to build a new head office for Hanley Economic Building Society.

The building society will move into four buildings arranged in a courtyard setting, as part of the Festival Court scheme in Etruria Valley, near Stoke on Trent.

It will replace the nearby head office which St Modwen built 16 years ago.

The 7,850 sq ft self-contained two-storey offices, costing around £1.8 million, will be the first development in the fourth phase of Festival Park where over 220 acres have already been developed.

Hanley Economic has acquired a 150-year ground lease and entered into a development agreement with Stoke-on-Trent Regeneration.

The planning consent also includes three two-storey office blocks, designed as 11 self-contained buildings, each of 1,800 sq ft.

128 car parking spaces will be provided.

Mike Herbert, St Modwen’s North Staffordshire regional director said: ‘The deal demonstrates the strength and resilience of Hanley Economic Building Society and highlights our continued commitment to regeneration in Stoke.'

Nearly 600,000 sq ft of business floor space has been built on Festival Park, formerly the site of the 1986 National Garden Festival. It has been redeveloped as part of a joint venture with Corus and St Modwen.

Louis Taylor acted for St Modwen.