Councillors are considering selling land to American Express which could pave the way for the company to build a new headquarters.

Amex wants to build on its existing site in Edward Street, Brighton, to safeguard its presence in the city and the future of 3,000-plus employees.

To do so it must purchase the freehold to land to the north of the present building, and a decision to sell will be made by the council's cabinet on Thursday.

How much Amex would pay is being kept under wraps on the grounds of commercial confidentiality.

According to the council, strict conditions will be attached to the sale, meaning it would only be completed once a new headquarters had been built and future employment at Amex secured.

Plans for the office block have been put on public display and a planning application is expected within the next month.

Council leader Mary Mears said: "If we agree to sell the land it will be because American Express is a very important local employer which we would want to retain in the city.

"We would only sell the land with the understanding that American Express plans to remain in the city and invest in its presence.

"But it's certainly encouraging in these tough economic times that Amex is showing faith in the city's future and wants to build a new HQ here."

The cabinet meets at Hove Town Hall at 4pm on April 23.