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Oxford University agrees £4bn house building deal with Legal & General

Financial Services giant Legal & General is providing Oxford University with funding over 10 years for 1,000 homes for staff and 1,000 units of accommodation for students as part of a £4bn building project across various sites in and around the city.

This includes graduate student accommodation in Wellington Square (Jericho), Court Place Gardens (Iffley) and Ewert House (Summertown), 500 new student homes and a science park in Osney Mead, and up to 1,000 subsidised rented homes for university and college staff in Begbroke.

While environmental campaigners have criticised the plans for using green belt land, the university insists the projects will address some of it's most pressing accommodation challenges.

Professor Louise Richardson, Vice-Chancellor of the University of Oxford, said: 'My colleagues and I are delighted to have formed this partnership with Legal & General. We look forward to working together to address some of the most pressing challenges facing the University today.

'We will build much-needed graduate accommodation, subsidised housing for University staff, and new science parks, where academic departments, University spin-outs and commercial partners can work together to create new companies as well as high-quality jobs.'

Oxford University plans a £4bn house building partnership