The group was awarded a $400,000 grant from Lotterywest, presented by Wanneroo MLA Paul Miles, to build a facility on the vacant site near the Wanneroo Showground.
Chairman Daniel O’Keefe said the move was needed, as they had outgrown the current headquarters.
“It allows us to continue and expand our services,” he said.
“We can do a lot more things for the community.”
The project is expected to cost about $700,000, with $70,000 raised by the group.
Shed members refurbish donated computers to sell to disadvantaged people at a low cost, offer computer tutoring and create items for non-profit groups in the workshop.
Mr O’Keefe said the grant was testament to its unique mix of services, which he hoped would grow to include public lectures and classes.
“We do lots of good services for the community and lots of activities we can offer to retired men,” he said.