Work has started on a new £1m relocation development in Lowestoft which will complete an office Business Park launched nine years ago.

A 6,000 sq ft, three storey building is being built at Quay View Business Park as the new Lowestoft office for chartered accountants and financial advisors, Lovewell Blake, currently based in Oulton Broad.

The new offices are being built by Wellington Construction for Oldman Properties – both of which are based at the Park. They will house 43 Lovewell Blake staff and partners.

Lovewell Blake partners Andrew Turner, Paul Briddon and Mark Haylett, Philip Oldman and Andy Oldman from Oldman Properties, and Wellington Construction managing director Paul Pitcher and construction director Paul Ollington broke the ground at a ceremony to mark the start of construction. The office is expected to be handed over to Lovewell Blake in the autumn for completion of the fit-out, with the firm moving in during the first week of December.

The building is the ninth and last office to be built at the Quay View Business Park, which was launched in 2004 by Oldman Properties. An estimated 350 people will be employed on the Park once the new building is handed over.

Philip Oldman said: 'Quay View Business Park was an ambitious project when we undertook it nine years ago, but despite much of that time spent in difficult economic conditions, we have developed an average of one new office building a year over that period, bringing investment and jobs into the town. We are proud to have created a real business asset for Lowestoft.'

Paul Pitcher said: 'We have been the construction partner for all of Quay View Business Park, and we are pleased to have helped create a really prestigious, modern environment for people to work in.

With the commercial property we are building here, and in the New Anglia Enterprise Zone, we are playing our part in regenerating the economic and employment prospects for the area – as well as providing much-needed construction jobs locally.'

Andrew Turner said: 'In our 155th year, this office move is another exciting milestone for Lovewell Blake and one which we believe demonstrates our continued commitment to the town of Lowestoft. Our new location at Quay View Business Park will provide us with a modern and efficient office for our staff and a more pleasant environment from which to serve our clients. We are pleased to be working with Oldman Properties and Wellington Construction on this project.'