The first university-owned Wetherspoon pub is set to open later this year. The boozer, which will be staffed and licensed by the university, will offer students a full breakfast for less than £5.

The Sir Ronald Wates will open its doors to punters at the University of Surrey campus, in Guildford, in May. It will become the third Wetherspoon pub located on a university campus in the UK, joining Luther's Bar in Newcastle and Sanctuary Bar in Hull. However, both of the existing pubs are operated by their respective student unions rather than the universities.

Will Davies, chief operating officer at the University of Surrey, said: "We wanted to give our community a pub-style venue that could offer genuine value for money alongside quality.

"Wetherspoons' model means students can get a full breakfast for less than £5. The Wetherspoon franchise gives us their pricing power and supply chain efficiency whilst allowing us to offer a great experience for our students and staff."

As well as students and staff, the Sir Ronald Yates will be open to members of the public. It will be located in the Wates House building on the campus.

John Hutson, Wetherspoons' chief executive, said: "We are delighted that a Wetherspoon pub is to open at the University of Surrey. We are confident that it will prove popular with students as well as members of the public and be a great addition for the university."

It comes after Wetherspoon opened its first pub in continental Europe on Monday, February 9. It is located in the departures area of Alicante-Elche Airport.

The budget boozer, named Castell de Santa Bàrbera, is becoming popular with Brits heading to the south of Spain, including Benidorm. Wetherspoon boss Tim Martin has also suggested there could be further openings this year.

He said: "We aim to open a number of pubs overseas in the coming months and years, including those at airports."