AVIVA, the insurance and financial services giant, has committed its future to Perth.
The company brought speculation over its function in the city, where it employs 1300 staff, to an end with by purchasing the previously leased Pitheavlis building outright.
With the current lease due to expire at the end of 2014, there had been reports Aviva was planning to relocate to Glasgow. However, the company has elected to acquire the building after reviewing its property strategy for 2015 and beyond.
The premises will continue to be used by Aviva as a centre of excellence for its general insurance business.
Ian Ferguson, Aviva's Perth-based chief underwriting officer for intermediary and partnerships business, said: "This purchase meets Aviva's immediate financial needs while providing long-term benefits.
"This is a sensible, sustainable purchase that supports our financial targets.
"The quality of our staff in Perth was another hugely compelling factor in choosing to remain here. Aviva's Perth Centre of Excellence plays a key role in delivering our commitment to providing an excellent customer experience."
John Swinney, Finance Secretary and MSP for Perthshire North, said: "There has been a great deal of uncertainty surrounding the renegotiation of the lease, but the company's decision to purchase the site is a massive vote of confidence in the workforce in the city of Perth."
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