HAWTHORN is one step closer to realising its dream of a world-class training facility, with the club purchasing a 28-hectre property in Dingley.

On November 30, the Hawks informed the owners of the former landfill site in Melbourne's southeast, their intention to purchase the block of land for $7.75 million.

The Hawthorn Foundation has assisted the club with the bulk of the money, with settlement due early next year.

"We've left stone unturned to ensure that this is the right decision for the club," Hawthorn president Richard Garvey, who was elected unopposed, told members at the club's AGM on Thursday night.

"I'm pleased to advise that we asked our Foundation to assist and they have provided the bulk funding. They've been working for close to 10 years raising money for a time like this.

"So over the next few months we hope to settle and at least get started on stage two which will be a very challenging time for us, raising money to build our dream.

"Our dream has been modeled on clubs from overseas, in particular the EPL and NFL. Our vision is to never be landlocked like some other clubs in Melbourne, and be able to cater for this club for many, many years to come."

Given the site is a former landfill, the Hawks took 18 months to complete their due diligence and presented a report to the board for their consideration in August.

The club has already received planning approvals from the Kingston Council.

The training and administration facility is tipped to cost $30 million.

The Hawks have developed a fundraising strategy that will be released to members next year.

"We've got a huge task now," Garvey said.

"We think it will take up to two years to do a lot of the fundraising. It is exciting and we're really proud and hopefully we can deliver it."

The site will feature both MCG and Etihad Stadium-sized playing fields, an administration building, social and community facilities and a new club museum.

It is unclear whether Hawthorn will seek a financial contribution from the AFL.

Garvey said there was no timeline for the completion of the project, but assured members the club's financial stability was of utmost importance.

"It could be five years, it could be 10," he said.

"But one thing we won't do, is put this club in any jeopardy financially. We want to stay strong, that's really important to us."

The Hawks recorded a net operating profit of $2.57 million this year.

Garvey served as interim president after Andrew Newbold stood down earlier this year to take up a position on the AFL Commission.

He will remain in the role for at least the next three seasons as the club attempts to make a successful transition to a new era after dominating the competition from 2013-2015.

Garvey has been a Hawthorn director since 2010.