The Greater Building Society has identified a site for its new head office in Newcastle.

The Hunter based financial institution has entered into an Option Deed with Hunter Development Corporation (HDC) for the 3700 square metre Lot 22 block at Cottage Creek, Honeysuckle, next to Hunter Water.

CEO Don Magin said the land will allow the Greater to better serve its growing customer base brought about by its continued strong business performance.

Mr Magin said the Greater’s 350 head office staff have outgrown the current building in Hamilton and he has been looking for a new headquarters to house its growing local workforce, now and into the future.

“After much searching we have found a site that will meet our future needs,” Mr Magin said.

“The Option Deed gives us time to carry out due diligence and if all goes as planned, we should be in a position to lodge a project application with the consent authority towards the end of the year,” he said.

Mr Magin said the Greater was yet to decide whether it will sell or lease its existing Hamilton office but it will retain its branch on the corner of Tudor and Beaumont streets.

“The Greater’s Hamilton office is a fantastic, modern building in a sought after location so we are very confident there will be other organisations interested in taking our place. 

The Greater extensively redeveloped the current head office in 2004, doubling the capacity of the building.

“The decision to move away from Hamilton, our home since the Greater commenced operations in 1945, was a difficult one but further expansion of the building is not feasible.”

“The Greater’s focus on meeting the needs of members, means we are continuing to experience strong growth in lending which has increased our market share.”

The Hunter based Greater Building Society is one of Australia’s top 200 private companies (BRW) with assets worth more than $4 billion and 68 branches. It serves almost 250,000 members across regional NSW, Sydney, Gold Coast and Townsville. The Greater is Australia’s current Building Society of the Year after winning both the AFR Smart Investor and Mozo People’s Choice Awards.

MEDIA ENQUIRIES:  Craig Eardley on 0437 477 493.
Web: www.greater.com.au Blog: http://blog.greater.com.au Twitter:@GreaterBSociety