Coalition growth tsar, Lord Heseltine, has revealed plans to relocate his publishing firm to a new headquarters in Richmond LBC.

Haymarket Media Group plans to relocate 1,100 staff from its Hammersmith and Teddington offices to the 21-acre site of Richmond upon Thames College. Lord Heseltine chairs the shareholders' board at Haymarket, a firm he founded in 1957.

Haymarket and Richmond LBC have been talks over the move for several months, and plans for the site also include an overhaul of the college, a new secondary school and a purpose-built home for children with special needs.

Richmond LBC has allocated £10m towards the project.

Lord True, leader of Richmond LBC, said there was ‘still a lot to discuss' before the deal is finalised. But he added: ‘By bringing Haymarket, Richmond College, and the two new schools together, we will improve the quality of education and employment options for young people around the borough.'