FINANCIAL insurer CPP Group has moved into its new offices in Leeds after relocating its group wide operations from their home of almost 20 years in York.

CPP Group told its 300 York-based staff in July this year that it was moving its head office out of Holgate Park.

The business has now signed a 10-year lease for 8,008 sq ft of office space at East Parade in Leeds

The move has seen the loss of 26 jobs at CPP, alongside the relocation of 35 staff, while around 80 IT roles have remained at the firm’s data centre in York.

Jason Walsh, chief executive of CPP Group said: “Moving the Group’s corporate centre to Leeds is an important step in our ongoing transformation programme.

“Being located in the city centre will give us all the benefits that Leeds can offer, from excellent access to talent in the marketplace to being in the middle of the fastest growing financial services and technology centre in the north of England.

“The office will provide a fresh and energetic working environment which will help us to create the right culture to take our business to the next stage of its development.”

While CPP’s group wide head office has relocated to Leeds, its UK division continues to operate out of York.

The firm sold its office at Holgate Business Park to York-based music retailer Gear4Music, raising £5.3 million through the sale.

CPP’s initially leased back office space from Gear4Music for its group corporate centre, while relocating its UK operations to smaller offices on the business Park.

The company said it favoured Leeds as the location for its group corporate centre over York due to the city’s “emerging technology scene”, and the benefits associated with being in a “larger financial centre”.

CPP relocated to York from Chelsea in 1998. At its height it employed more than 1,000 people in the city.

The company was hit in 2013 following an investigation by the Financial Services Authority in which it was found guilty of mis-selling and was subsequently ordered to pay out millions in fines and compensation.

The new offices in Leeds have undergone a £3.5 million investment programme by the joint venture partnership of Bridges Fund Management Ltd, Evenacre to transform the property to Grade A offices.

Alex Hailey, Associate Director of CBRE’s Office Agency team, which was joint agent for the site, said; “We are delighted to secure CPP on the third floor of 6 East Parade, which is one of the finest business addresses in Leeds, ideally situated within the traditional commercial and financial core.

“The restoration of this building is superb and the creative finishes are designed to deliver a great first impression.

“It offers an enviable working environment, providing the perfect experience for staff, attracting potential employees and customers alike.”