The relocation will start this month and the studio should be live by the middle of next year.
As all ITV network news must be broadcast in widescreen by 2004, the new set-up will be fully 16:9 compatible.
'The move to widescreen digital television makes such expenditure essential,' said GTV managing director Derrick Thomson. 'We've been in the same building for 40 years and although we looked at converting the current facilities, it was decided it was unfeasible.'
The current site will be sold to property developers.
Thomson said the centre would have a 1,200 sq ft digital studio and a digital newsroom, with desktop editing facilities for journalists. He added that outside broadcast vehicles would also remain an important part of GTV's coverage.
Thomson admitted there may be changes to the levels of staffing but said that nothing would be decided until the move is completed.