Bristol Rovers Football Club (BRFC) has unveiled its plans to relocate to a new 20,000-seat stadium on land at the University of West England's (UWE) Frenchay campus.

The npower League Two club said its current Memorial Ground is no longer fit for purpose and aims to sell off the existing venue to Sainsbury's to help fund the Arturus-designed development. Both projects are expected to represent a combined investment of £60m, with the new venue to boast a large supporters' club bar; a club shop; and a banqueting and hospitality suite.

A convenience store; a crèche; a gym; a jogging track; and around 19,000sq ft (1,765sq m) of potential teaching space for UWE are also proposed as part of the development. Bristol Rugby Football Club has been offered the chance to share the stadium, with work to start early next year subject to planning permission. It is hoped the venue will be completed ahead of the 2013-14 season.

BRFC chair Nick Higgins said: "Negotiations on this project have been going on for nearly two years, in tandem with our plans to develop the existing Memorial Stadium site. "We have looked at several sites in Bristol and South Gloucestershire, but we felt this land ticked all the boxes to allow us to build the best possible stadium for Bristol Rovers."

UWE vice chancellor Professor Steve West added: "The agreement makes UWE the first university campus with a 20,000 seat stadium in the UK - putting it on a par with many International Universities."