The Deansgate mixed-use scheme, overlooking Lincoln Square, will be designed by Squire & Partners.
Designs will also focus on improving the setting and views of the neighbouring St. Mary’s Church, Manchester’s ‘Hidden Gem’.
Demolition of the 1960s eight-storey building could begin in spring 2012 with the new replacement offices and piazza penciled to be completed around summer 2014.
The project is being delivered by Prupim on behalf of the building’s owners Prudential.
William Rooke, development manager at Prupim, said: “This decision provides yet another jigsaw piece in support of the city’s regeneration strategy and inward investment objectives.
Jones Lang LaSalle has been instructed to find a tenant before construction can start.