THE Swiss company behind plans for a new 400-student international academy in Headington says its proposals will pump millions of pounds a year into Oxford’s economy.

The scheme to redevelop Cotuit Hall and build three blocks alongside Pullens Lane is facing opposition from residents, who have formed the Headington Hill Umbrella Group.

Residents are unhappy about the scale of the development and the number of students planned to be based at the Pullens Lane site.

But EF International Academy, which acquired the 19th century hall from Oxford Brookes University on a 125-year lease last year, said the project would bring real benefits to the local economy.

Anna Ireland, project manager for the academy, said: “With a struggling economy, it is worth pointing out that our proposed plans will inject some £12m ‘new’ cash in operational costs per annum into the local economy.”