08/01/2015 - 12:00

Liberals buy office to shift state HQ

08/01/2015 - 12:00

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The Liberal Party has bought a strata office at 12 Parliament Place, to relocate it's WA headquarters.

The Liberal Party is gearing up to relocate its Western Australian headquarters, after purchasing a strata office at 12 Parliament Place for an undisclosed sum.

The deal, for 291 square metres of office space in the building, which is mostly apartments, was brokered by CBRE’s Michael Milne.

The sale price was not disclosed, however the property was listed for sale last month for $1.75 million.

It is understood the office will receive a new fitout to cater for the Liberal Party’s needs, while the purchase also includes a roof-top pool terrace which overlooks Parliament and the city.

According to a message to state council circulated last month, the purchase of the office at 12 Parliament Place will be funded by the party’s existing capital as well as new borrowings, which will be fully repaid within 15 years.

The interest repayments and outgoings will be less than the lease payments for the existing offices, the document said.

Mr Milne said the property was in a dress-circle location which would suit the party well, given its close proximity to State Parliament, the Department of the Premier and Cabinet at Hale House and other ministers’ offices.

The Liberal Party’s WA headquarters has been located at level four of Menzies House, at 640 Murray Street, for the last 25 years.

The long-term home of WA's Liberal Party at 640 Murray Street.

In February last year, Menzies House owner Terry Jackson told the Liberal Party it would no longer be able to occupy the premises without paying rent.

Mr Jackson purchased Menzies House for $1.1 million in 1985, according to commercial property analyst RP Data’s Perth CityScope publication.

As well as the space that the Liberal Party is set to vacate, level three of Menzies House, comprising around 400sqm, was listed for lease last month by commercial agency JLL.

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