Said approves new site

DETAILS emerged last week of the new Oxford University business school site, which has now met the approval of donor Wafic Said.

The price of the Railtrack-owned site next to Oxford station is still to be finalised.

But Mr Said has agreed to continue with his Pounds 20 million donation, as long as dons vote in favour of the plans at their meeting on June 17. He has also changed the composition of the foundation which will run the school to ensure most trustees are external and to underline his desire not to appear interfering.

Four trustees will now be appointed by the university, four by Mr Said, one by the Confederation of British Industry and one from another business-related field.

A spokesman for Mr Said said: "He agreed that the station site was the only viable and realistic option within the available time-scale." The one-hectare station site only came to the university's attention after academics had rejected the initial choice at Mansfield Road.

Under the proposals, the site and business school building would belong to the university, which would grant a 299-year lease to the Said Business School Foundation. The university would have at least three years to raise about Pounds 9 million towards the cost. It has already found a possible benefactor.