IT’S the end of an era for one of Southampton’s oldest stores which is on the move and changing its name.

Parkhouse jewellers which has been on the city’s High Street in one form or another for more than 200 years is moving to Westquay where it will rebranded as Laing.

Laing, which began life as firm of clockmakers in Scotland in the 1840s, is investing £1m in the new showroom on the lower ground floor of the shopping centre.

The new 2,820 sq foot shop will house fine diamond jewellery and luxury watch brands Rolex and Patek Philippe.

Karla Ducker, general manager at Parkhouse Hampshire, said: “The new state of the art £1m store at Westquay will form part of a new luxury retail corner for shoppers in the city centre. As a family business born in Southampton, we are proud to be one of the founding retailers of this new offering, as we continue to build upon our rich history within the local community. “

Parkhouse was taken over by Laing in 1995 and the group has three other shops other than Southampton – Parkhouse Cardiff and two Laing stores in Edinburgh, one of which specialises in watches.

Chairman Michael Laing said: “The move from Above Bar to Westquay is an exciting development for our business and customers. The new store is a better fit for our brand and customers, we’re moving to a state-of-the-art luxurious showroom with more spacious, contemporary interiors and ease of parking.

“The decision to re-brand to Laing is a positive step for Parkhouse as it takes us onto a national platform as one brand.”

The firm’s history in Southampton dates to 1794, when a Blandford man, Daniel Pegler set up a family jewellery business in the High Street this eventually became Pegler and Wyatt.

The firm merged with rivals Parkhouse, which had been founded in Above Bar 1893, to become Parkhouse and Wyatt in 1940 after both businesses suffered damage in bombing raids on the city.

Laing expanded into jewellery in 1850 and moved into retail in 1939.

Michael Laing, the fifth generation of Laings to manage the business, moved the company to Edinburgh in 1978 where he opened a showroom on Frederick Street.

In 2013, Laing reported a 42 per cent increase in profit, breaking the £1m barrier.

The growth of the business has continued, predominately driven by watch and diamond sales.