Thatcher's Former Party HQs Bought By EC For $40 Million To Become Joint EC-European Parliament HQ

May 24, 2008 9:10 a.m. EST

London, United Kingdom (AHN) - The European Commission bought the former party headquarters of former British Prime Minister Margaret Thatcher for $40 million to use as its joint head office in the United Kingdom with the European Parliament, a Commission statement said.

The 25,000 square feet political landmark, will be renamed European House. It was formerly the Conservative Central Office (CCO).

Reijo Kemppinen, head of the EC Representation in the UK, in a statement said the building will be a "home to political debate and communication as well as artistic expression, and open to all those who want to work with us."

The EC's purchased meant "considerable saving" compared to its expenses in leasing the same amount of space in central London, Kemppinen added.

Bloomberg, quoting the statement, reported the building will be ready for occupancy in 2010.

Sited at 32 Smith Square, the building was strategically located near the House of Parliament, CCO for 45 years until 2003.