Rolex revealed as buyer of Liberal Party headquarters
Upmarket watch brand Rolex is buying the Victorian Liberal Party’s long-time headquarters in Exhibition St in Melbourne’s central business district for $37.1 million.
The sale to the watchmaker was confirmed when the company put a caveat on the site after more than three days of silence from the Swiss group, which did not answer questions from The Australian.
Proceeds will help refill the party’s coffers after it funded the recent failed election campaign to unseat Victoria’s Andrews government.
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The party sold 104 Exhibition St, on the corner of Little Collins St, at a sales rate of about $16,100 per square metre on net lettable area.
After 30 years occupying the space, the Liberal Party will now vacate the premises at the end of next year.
Colliers International Melbourne city sales team of Daniel Wolman, Matt Stagg and Oliver Hay sold the site.
This article originally appeared on www.theaustralian.com.au/property.