Police were called to the University of East Anglia in Norwich at 8.40am today following reports a body had been found in the lake on the site.
A Norfolk Police spokesman said: "Emergency services are on scene and the area has been sealed off."
The force has not yet confirmed the age or gender of the person involved.
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22 Albatross boats, glamorised by the likes of Brigit Bardot and Prince Rainier, are sailing in Norfolk and Suffolk this weekend.
Risk of heavy rain overnight and later Sunday.
Dry for much of the day. Some rain this evening.