Kemi Badenoch’s Conservative party has shelled out £14million on a new London HQ as it ‘rebuilds’ after last year’s General Election drubbing.
The property in Castle Lane, between Victoria and Westminster, was bought by the Conservative Party Foundation and boasts five floors and 12,000 square feet of office space.
The purchase was largely bankrolled by a £10million donation from the late Lord John Sainbury, left to the party in his will in 2023.
It was the largest single donation made to a political party in history.
Insiders say the move to the new offices, due to take place after the May local elections, is a show of strength from the Conservatives after losing power to Labour in July.
They also hope it will reassure voters of the party’s stability, in the face of growing support for Nigel Farage’s Reform party.
Mrs Badenoch told the Mail on Sunday: ‘A year ago, our opponents were writing off the Conservative Party.
‘They said we were too broke to survive. Today 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.’
She added the move showed ‘we are here for the long haul’, as it is also set to save the party more than a million pounds a year in rent that they currently pay.
Images of Margaret Thatcher waving at supporters from inside former party headquarters at 32 Smith Square after election victories were among the most symbolic of their 50-year tenure there – the last time they owned their own HQ, rather than leased it.
The purchase was completed last Thursday, after searches for a permanent home had been ‘in the works’ for 16 years.
The Conservatives’ latest poll bounce – which has seen Ms Badenoch’s personal approval rating up by eight points – has prompted a surge in donations.
Over the last three months, they raked in £5m in fresh donations.
However, that was dwarfed by a record £9 donation to Nigel Farage’s Reform UK from cryptocurrency investor and aviation entrepreneur Christopher Harborne.
Reform also celebrated another defection from the Tory ranks yesterday when ex-Conservative Lord Offord switched sides.
But last night, Ms Badenoch said the fact that the Tories were moving into a new HQ ‘shows what happens when people refuse to give up on the Conservative cause – and refuse to give up on Britain.’
She added: ‘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.’
