Two Midland property developers are relocating finance and insurance firm THB Group to new, custom-built headquarters at Tachbrook Park, Leamington as part of a £4 million joint venture.
THB, which includes insurance broker THB Clowes and THB Financial Services, employs 90 staff locally and will move into its new premises next spring.
The new state-of-the-art HQ is being developed by Birmingham-based Stoford Developments and AC Lloyd (Holdings).
It comprises 20,000 sq ft of grade A office accommodation built on three storeys on a prime greenfield site close to the M40.
Work is already underway on site, with completion scheduled for March 2006.
Paul Dudley, chairman of THB Clowes, said: " Having outgrown our existing site, we decided Tachbrook Park provides the excellent communications, high visibility and prestige working environment we require to support our expanding business."
Dan Gallagher, development manager for Stoford Developments, added: "Achieving an office pre-let on this scale in the current financial climate is a major achievement.
"It shows that top UK companies are continuing to look seriously at prime sites in the West Midlands to base their headquarters."
Gordon Nicholls, managing director of AC Lloyd (Holdings), which opened
the one million square feet mixed-use business park 15 years ago, also said: "We are delighted to be working with such a well-established developer as Stoford on this landmark scheme.
"We hope it is the first of many such joint ventures," he said.
Stoford Developments has a strong association with the Leamington area, having gained consent to develop a European office HQ and national distribution centre totalling over 450,000 sq ft for Wolseley UK at nearby Spa Park.
Stoford Developments and AC Lloyd (Holdings) were represented by Leamington-based Evans Hardy Bromwich and the Birmingham office of Jones Lang LaSalle.