The planned revamp will involve demolition and reshaping of the centre while shops continue to trade.
Preparatory work has been ongoing throughout 2018 including the relocation of the centre’s management office and improvements to the Wilkos store to make way for The Light cinema.
Sir Robert McAlpine will now start on site delivering the next phase of the project.
The signing of a contract comes after Nottingham City Council’s announcement that it has confirmed its approval to the award of the contract for the intu Broadmarsh redevelopment.
Councillor Jon Collins, Leader of the City Council, said: “I’m pleased intu have signed contracts with Sir Robert McAlpine which means work can finally begin to make major changes to the area, which shows the confidence intu have in Nottingham. 2019 promises to be a busy year in the Broadmarsh area, with the new Broadmarsh Car Park building also due to start on site soon.
“The redevelopment of the shopping centre and the area has been a long time coming and I’m sure we all look forward to a new intu Broadmarsh, a rejuvenated Car Park, Bus Station and new Central Library, as part of the wider major redevelopment of this part of Nottingham.
“The Broadmarsh redevelopment programme forms part of the £600m worth of regeneration in the area such as at Nottingham Station, Station Street, Nottingham Castle, Nottingham College’s City Hub, Unity Square, City Buildings, Carrington Street and much more.”