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Liberals Melbourne HQ sold for $37 million

The Victorian Liberals have sold their Melbourne CBD headquarters for $37.1 million, days after the party's disastrous state election loss.

The Victorian Liberals got smashed in the election at the weekend, but they are set for a $37.1 million win after the sale of their Melbourne CBD headquarters.

Colliers International confirmed on Thursday the party has sold 104 Exhibition Street, which will see the Liberals vacating the tower at the end of 2019 after 30 years there.

"With an expected price of over $30 million, the campaign saw over 110 genuine inquiries and received 10 strong and reputable bids," Colliers director of Melbourne city sales Daniel Wolman said.

"The final bidder was a very high-end luxury retail brand who have purchased the building with plans to owner-occupy for their Melbourne headquarters."

The state Liberal Party put the six-level, blue-chip building on Exhibition Street up for sale in September after becoming cash-strapped.

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The Liberals took out a $2 million mortgage against the building after former state director Damien Mantach stole $1.5 million from the party. He was convicted, jailed and is now released.

The party also fought with its major donor, the Cormack Foundation, ahead of the election which even went to court.

The sale is a much-needed win for the party, which is in turmoil following the disastrous election result.

Matthew Guy resigned as leader on Wednesday but has not made any public appearances since his concession speech on Saturday night.

The two likely leadership contenders are shadow treasurer Michael O'Brien and shadow attorney-general John Pesutto.

However, it's still unclear if Mr Pesutto has retained his seat of Hawthorn, which has started to enter Labor's hands by just dozens of votes as the count goes on.

A woman is tipped as deputy leader, but the number of females in party ranks has also been decimated following the election.

So far the only women who are certainties are Cindy McLeish, new MP Bridget Vallence and Roma Britnell.

However, Louise Staley and Heidi Victoria might also be added if the ballot counts swing their way.

The party is expected to meet next Thursday to vote on the leadership.


2 min read

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Source: AAP



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