WORLD Cup-winning goalkeeper Gordon Banks was on hand yesterday to officially open Oxford's newest five star hotel.

The £3.5m George Street Hotel was unveiled after more than ten years in the pipeline and the owners said it would compete with The Randolph and Malmaison.

Owner Hardeep Gidda hoped it would have a huge impact on the street and the city centre and attract international visitors.

The 1966 legend Banks waived his appearance fee in favour of a £1,000 donation to the Alzheimer's Society in support of his fellow teammates suffering with the disease.

Three of the team - Nobby Stiles, Ray Wilson and Martin Peters - were diagnosed in their sixties, while Jack Charlton has also admitted losing his memory.

He said: "I raise money for Alzheimer's whenever I can, because a lot of the lads who played in the 1966 final have got it.

"It's really sad, they are at the stage where they can't really talk at all and don't recognise you.

"Martin Peters can't remember anything about the final, it's so sad - I feel so sorry for all of them."

The 79-year-old also lost his brother David to the disease in 2012 and hoped his efforts would help save future generations.

The former Leicester City man was also impressed with the new hotel and the city.

He said: "It's a very nice hotel - they've spent a lot of money on it.

"It's a nice place for businessmen or visitors to the city to come and stay for a few days, and it's in a great location."

Plans to convert the three floors above TSB Bank and George Street Cafe from empty offices into a hotel were originally granted in 2006.

The proposals were changed to drop a gym and restaurant in favour of more bedrooms - 41 in total - and the project was revived earlier this year.

At £185 a night for a standard room, it is at the higher end of the hotel market in the city.

Co-owner Hardeep Gidda hoped it would impress Oxford's many visitors.

He said: "We hope the hotel will have a huge impact on George Street and the whole city.

"Of course we would like to attract international visitors and when they come to Oxford we want them to have a positive reflection of the city.

He added: "We want to be competing with The Randolph, Malmaison, The Old Bank, we are at that level."

Oxford City Council has been pushing for more short stay accommodation and hotels in the city centre over the past few years.

Its Local Plan prioritises more hotels to stop visitors leaving the city or just choosing to stay for the day.

Council leader Bob Price, who also attended the launch, said: "It's what we are looking for, it's in a great location really close to restaurants, shops and the theatre.

"It's also at the high end of the hotel market.

"We want more hotels in the city centre for our visitors it's great to see this open."

Banks was invited to the opening by his long-time friend Glyne Wetton, a friend of hotel owner Mr Gidda.

Mr Wetton and Banks have raised more than £180,000 on their travels so far for the Alzheimer's Society.

To donate go to alzheimers.org.uk