A major private sector tenant has made a commitment to head back to central Christchurch, with Westpac confirming it will move more than 450 staff into a new building.
Westpac chief executive Peter Clare says the bank will be transferring its operations, support services, business bankers and flagship branch into a state of the art premises in Christchurch's rebuilt central business district.
The building will be one of the first completed on The Terrace, the new retail and office area being constructed on Oxford Terrace and Cashel Street.
The Terrace developer Antony Gough says the tenancy is huge and will attract retailers to the area.
He says it is a sign of growing confidence in the rebuilding of Christchurch.
Construction of the Westpac premises is expected to start in August next year and staff will move in by mid 2016.
The Government announced in September that it will move about 1700 government employees from 20 departments and agencies back to central Christchurch in 2016.