Construction starts this month on the main complex site and Wates plans to host a series of meet the buyer events to get on board local suppliers and sub-contractors.

It will also take on 10 apprentices from the Greater Manchester Construction Group Training Association.

The new HOME arts centre will see Manchester’s arts institutions, Cornerhouse and the Library Theatre Company co-locate at First Street North.

The new complex will boast a 500-seat theatre, 150-seat flexible studio space, art galler, five cinema screens, digital production and broadcast facilities, restaurant and offices.

The scheme incorporates three viaduct arches along Whitworth Street West and has been designed by Dutch architects Mecanoo, which has an office in Manchester.

Planning permission for the scheme, which forms part of an £80m investment programme at First Street North, was granted in June last year.

The 20-acre site is also set for an outdoor performance area, a new public square for the city, a 208-bed hotel, a 700-space multi-storey car park and around eight to ten new restaurant and café units.

Tony Shenton, business unit director for Wates Construction North West, said: “We are very proud of our appointment to such a flagship facility for the city, a project which is set to become Manchester’s new home of culture.

“Through partnership working we are in no doubt that this will be a world class artistic facility and we are very much looking forward to embarking on the next phase of the area’s transformation and adding to the renewed vibrancy at First Street.”

Wates was awarded the work through the North West Construction Hub following its appointment to both the medium and high value Hub frameworks in 2010.

This forms part of the North West Improvement and Efficiency Partnership which has so far helped to find cost and time efficient procurement of 90 construction projects worth £533m.