The conference venue has a capacity for 160 people with 18 conference rooms, 123 en-suite bedrooms, restaurant, bar, private dining room and garden lounge. The venue has already secured bookings up to June 2016.
The development updates the existing College Hall site, which was originally designed by renowned architects Sir Leslie Martin and Trevor Dannatt in the 1960s.
Vice-chancellor Sir Robert Burgess, who opened the centre, said: "I am delighted to be able to open our new conference centre, which is something that I have been keen on developing at the university for a number of years. It will bring new people to the university and the city which will help the local economy and create over 50 new jobs."