I think it's great. By structure, it's almost similar to the ones I wrote last year when I applied for jobs, and I took part in a two-day course in CV and letter of application writing.

I have one comment though - I think that you should add something general to the beginning - something about where you had the information about the University. Usually, the suggestion is to put something like "In regards to your advertisement in the xxx paper on the xxth of xx, I would like to apply for a job...". So, for example something about that you've read their prospectus or something.

This is just a suggestion... Tell me what you think...