OXFORD University has revealed it is poised to sell the former paper mill site at Wolvercote.

Senior figures said there had been interest in the site from five developers, ahead of an imminent public consultation on its latest proposals for 190 homes.

Plans for a housing development on the land, off Mill Road, were first put forward 10 years ago as a way to house university staff, but this idea was scrapped due to high costs.

It has since resubmitted the scheme – which will not feature dedicated housing for university staff, or other ‘key workers’ – and said it intended to sell the site when Oxford City Council had ruled on it.

University Pro Vice-chancellor for planning, Prof William James, said this was in large part due to the local authority’s affordable housing policy.

The rule requires half of homes in new developments to be ‘affordable’, but does not include key worker housing in this quota.

As disclosed earlier this year, the policy is under review and officers are expected to report back before the end of the year.

Prof James told the Oxford Mail: “Our plan has always been to dispose of the land and it would take quite a few changes for us to not do that.

“That [sale] must be done in a way that provides the best value to support the key charitable objectives of the university.

“I would deal with any potential purchaser on its merits.”

Chris Hardman, chairman of Wolvercote Neighbourhood Forum, said: “We would prefer the site to sell with planning permission, rather than having to go through the whole process again.

“The university has tried to engage with local opinion and this is a brownfield site idle for a long time. Something must be done.”

He said concerns about traffic and flooding remained, but the group would wait to see fresh proposals put forward in the latest plans.

It came as the group behind major plans for another nearby North Oxford site, the Northern Gateway Consortium – approved by the city council earlier this year – said it was preparing to unveil its masterplan.

A blueprint for the Northern Gateway site includes up to 500 homes, a hotel and 90,000sqm of jobs space.

The consortium originally said it would submit plans by the autumn but it is understood the city council is not expecting them until 2016.

Spokesman Joe Cawley said another public exhibition was due to take place “in the autumn”.