HAWTHORN will look to partner with a school or a community organization to build an alternate training facility in Melbourne.

A key plank of the all for one business plan released on Thursday is a $35 million investment in the club's existing administration and training base at Waverley Park, so that it remains the long-term home of the club.

However the oval at Waverley is surrounded by a housing estate so the club would like a secondary facility where it can conduct closed training sessions away from prying eyes.

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"It wouldn’t be cost effective to build a new training facility entirely from scratch and to keep Waverley, so we would look to some sort of shared arrangement," Hawthorn president Andrew Newbold told AFL.com.au.

"We would work with a school, for example, and contribute to the ground, the rooms and a gym in the knowledge it would be there for us when we needed it."

The club has spent the last 12 months considering all options but determined that remaining at Waverley, where it moved from Glenferrie Oval in 2006 was the best option.

The club is currently spread over three levels of the facility and part of the $35 million upgrade would be to bring the different departments of the club closer together.