The 30,000 m2 building is to be built on the site of a campus car park and will accommodate the university's School of Informatics.
A health centre, a seminar space, laboratories, offices and workshops will also be included in the design.
The development is part of the university's construction programme, which includes another £50m to be spent on research buildings between 2004 and 2006.
A spokesperson for the university said a final decision on the project is expected to be made at the end of next month.
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