West Bromwich Building Society to move HQ

The West Bromwich Building Society is moving out of its high street headquarters after 30 years.

The company will be relocating to a brand new office development nearby, it was revealed today.

The plan is to shift the society's 450 head office staff to the new All Saints development in West Bromwich by early 2012.

The West Brom is taking 70,000 sq ft at the All Saints site, a £75 million 270,000 sq ft development currently being built a short distance away at the junction of the A41 Expressway and Cronehills Linkway.

Chief executive Robert Sharpe said the move gave room for the society to expand, raising hopes that the business might be starting to take new staff on by 2012 after a string of cutbacks as it recovers from last year's financial crisis.

Recent figures have shown the society slashing its losses, built up during an ill-fated investment in commercial property.

Mr Sharpe said the plans unveiled today underlined the society's commitment to West Bromwich. Despite offers from Birmingham for the society to base part of its operations in the city, Mr Sharpe said that idea had been abandoned because of opposition from members.

The move confirmed the society's "continuing commitment" to West Bromwich and the Black Country, he said. The current 45,000 sq ft building on West Brom-wich High Street was purpose-built for the West Brom in 1978 but Mr Sharpe said it would cost too much to modernise. "It's not technology-friendly," he said. "By taking 70,000 sq ft at All Saints we are giving ourselves another 25,000 sq ft, giving us room to expand for the future.

"Hopefully by 2012 we will be firmly back in the residential lending market and back recruiting people."