Oxford United chairman Firoz Kassam has a new manor, write David Duffy and Phil Clee.

The hotelier has paid the NatWest Group more than £13m for 18th century Heythrop Park, the mansion used by the bank as a national training centre.

The news came only two weeks after Mr Kassam, owner of the Holiday Inn hotel in King's Cross, London, sealed a deal to build a hotel and multiplex cinema in return for finishing Oxford United's half-built ground at Minchery Farm.

Mr Kassam said his immediate plans for Heythrop Park were that it should continue as a training centre, though his longer-term plans were to turn it into a five-star hotel and health farm, and to keep part of it for business training. Asked if he was planning to pull out of the Oxford United stadium, hotel and cinema project, he said: "I wouldn't say that at this stage."

But he admitted: "Things haven't gone right. I wasted 12 months on it. I've got to get on with my life, with other things. I'm not pulling out at this stage. It's just another business opportunity that's come along, and I'm taking it."

Martin Brodetsky, of Oxford United support group FOUL, said the group had not had time to discuss the development. He said: "I hope it won't have a negative effect on his dealings with the club.

"I imagine he is the sort of person who has money set aside for various projects and is using some of it for this one." Mike Newens, managing director of NatWest Group Property, said: "After deciding last year to close this under-utilised asset, we have achieved a satisfactory sale."

Nick Sweeney, director of property consultant FPD Savills, which advised on the marketing and sale of the park, said he was delighted that contracts had been exchanged.

Story date: Saturday 19 February

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