The cladding and refurbishment contract will revamp the 11-storey site which was built across three blocks in the 1960s.
Work will take 18 months and the council wants to start by next September.
Wilmcote House is in the Somerstown housing estate in the south of the city and contains 107 homes.
The refurbishment work will extend the building’s life by another 30 years and make it more energy efficient.
The contract will include new over-cladding with a support structure and considerably improved insulation and air-tightness, new high performance windows, replacement heating installations, re-roofing, new restricted access door system, structural repairs and fire upgrades including new emergency lighting and composite property entrance doors.
Contractors need to register their interest by January 7 with Portsmouth City Council Procurement Service Floor 5 Core 1, Civic Offices Guildhall Square PO1 2BJ Portsmouth UNITED KINGDOM procurement@portsmouthcc.gov.uk in-tendhost.co.uk/portsmouthcc/