The Conservatives have announced the end of an era with the news that Central Office is to be sold.

Following a revamp of the party chairmanship, the opposition is to sell the lease on the office block.

The bland building in Westminster's Smith Square became synonymous with the most successful political party of the 20th Century.

Images of victorious leaders Margaret Thatcher and John Major climbing the staircase were beamed around the world.

But in 1997 the fortunes of the Conservative Party changed - leading many to conclude it was time to get into the modern age.

Conservatives admit that their HQ needed significant modernisation to become fit for purpose.

Insiders say the Smith Square building was gloomy and depressing - and totally ill suited to modern open plan working.

The decision to sell the lease, which could raise up to £6 million for the party, was unanimously agreed by the board of the Conservative Party.

Following the meeting Michael Howard said: "I was tremendously impressed by the unity of purpose at our meeting this afternoon.

"There is a great determination to work together across the Conservative Party."

Raymond Monbiot, chairman of the National Convention and deputy chairman of the party, said: "It was a very positive board meeting.

"The decision taken today is just one more element in streamlining the Conservative Party machine for fighting the next general election."

The Tories said they will move to rented accommodation in Central London.

The party is seeking to acquire a floor in a modern office block similar to the Millbank Tower HQ which was Labour's launchpad to government.