Coventry & Warwickshire

Financial Ombudsman is Coventry Friargate's new tenant

Artist's impression of new city council building Image copyright Coventry City Council
Image caption The Financial Ombudsman Service (FOS) will take on two floors of the 11-storey One Friargate complex

A major financial body will move staff to a new city centre business district in Coventry, bringing 300 jobs to the site, the council has said.

The Financial Ombudsman Service (FOS) will take on two floors of the 11-storey One Friargate complex.

In April, the Royal Institution of Chartered Surveyors (RICS) scrapped its plan to move into the building.

Coventry City Council's regeneration boss Jim O'Boyle said it was "very positive news" for the city.

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The service is an independent body set up to resolve individual disputes between customers and businesses.

'Huge confidence'

It is expected to start moving into the building from October with the move completed by the end of the year.

Steve Reynolds, of Friargate, said it shows "huge confidence" in the development and "illustrates the attraction of the city and the development to a range of potential occupiers".

As well as two floors, it will share a ground floor reception area with the council.

Friargate is a regeneration project which aims to create 15,000 jobs spread over 25 buildings spanning 37 acres. The new complex includes 14 business offices along with retail shops, restaurants and bars.

Councillor O'Boyle, cabinet member for jobs and regeneration at the council, said: "Not only were the Financial Ombudsman Service impressed with the location, right next to the station with a regular and fast service to London, they also see real potential for their business [to] be based here."

The news comes just two months after the RICS announced it was to relocate after a bid to move to the Friargate site fell through.

At the time it said it was "disappointed" the chance to move into a new Coventry development "did not materialise in the timescales originally envisaged".

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