The new 150,000 sq ft school of management building will be located on greenbelt near the main entrance to the University and Convocation Avenue.
Procurement chiefs are planing to formally invite tenders for the £35m project in the early new year with the aim opening the facility in 2019.
The new four storey management school will be able to accommodate up to 3,000 management school students and around 220 academic staff.
It will feature classrooms, common rooms, learning spaces, a café and possibly a lecture theatre and trading room. It will also include a porters lodge, office, store room and mess area.
Further information is available by email from the procurement office.