The Conservative Party Foundation has purchased a freehold building in Westminster which will provide a new home for Conservative Campaign Headquarters.
The building has 12,000 square ft of office space set over 5 floors and has been purchased for £14.3 million.
The Castle Lane location is half a mile from Parliament, close to Victoria and St James’s Park Tube stations and 10 minutes’ walk from Westminster.
The Conservative Party Foundation is an independent legal entity within the Conservative Party and was established to build an endowment fund to underpin the long-term finances of the Party. Additionally, it funds the Party Archive at the Bodleian Library, Oxford, and several other Conservative projects. The foundation is chaired by Lord Michael Spencer, the former chief executive of ICAP Plc who also previously served as Party Treasurer. He is a donor to the Party and Foundation.
The purchase of a permanent home has been the primary ambition of the Foundation since its establishment. The Party sold its former headquarters in Smith Square in 2007. The lease on the current Party HQ expires in summer of 2026.
The new building will generate supplemental income for the Foundation as some of the office space is let to commercial tenants. This income will support the foundation’s bursary scheme which supports parliamentary candidates and other Conservative causes.
Conservative leader Kemi Badenoch said:
“A year ago, our opponents were writing off the Conservative Party. They said we were too broke to survive. This proves how wrong they were. We’ve secured a new permanent home in Westminster, not because we want nicer offices, but because we are rebuilding something bigger than ourselves.
This is a sign of a party getting back on its feet. A sign that supporters still believe in us and that we are really changing. This is a major investment not just in conservatism but in our country’s future. The Conservative Party has adapted to save our country many times over 200 years and we’re doing so again.
I’m grateful to the Conservative Party Foundation for making this possible. It shows what happens when people refuse to give up on the Conservative cause – and refuse to give up on Britain. We are here for the long haul, and we are getting ready to offer the country the credible alternative it desperately needs for a stronger economy. A party that can stand on its own feet is a party that will hold this failing Labour Government to account with energy and ambition.”
