The University of Buckingham says it is going to house a library and museum dedicated to the life of Margaret Thatcher.
Lady Thatcher, who died in 2013, was a former chancellor of the private university.
The university says it has been in talks with Margaret Thatcher Centre trustees about housing its collection.
Buckingham’s vice-chancellor, Sir Anthony Seldon, said the centre would become a “huge attraction”.
Donal Blaney, head of the Margaret Thatcher Centre, said the University of Buckingham would be a “natural location” for keeping its collection.
Lady Thatcher was prime minister when Buckingham became the UK’s first private university in 1983.
The centre, with its resources for education and research, will be modelled on the libraries and foundations dedicated to former US presidents.
The university says it expects the centre to be open by 2019, 40 years after Mrs Thatcher, as she then was, became prime minister.
The announcement follows a decision by the Victoria and Albert Museum to turn down the chance to exhibit some of Lady Thatcher’s clothes.
The London museum said it had been involved in discussions about acquiring some items from her wardrobe.
More than 300 items, including handbags, will now be sold at auction next month instead.