Contractor SDC Construction will now sign the contract to deliver the ambitious expansion of what is one of Cambridge’s most famous old buildings.
Building work will take place at the rear of the existing Business School and includes demolition of an area of hostels.
Work on a new 50,000 sq ft building designed by London-based architects Stanton Williams is expected to begin on the two-year project in June.
Phase 1 of the expansion project has a current estimated cost of £32m, plus an additional £2m to fit the building out.
A further proposed expansion phase, known as Phase 2, would include a new below-ground development in the forecourt of the Grade II listed Old Addenbrooke’s Hospital building that now houses much of the School.
Gavin Henderson, Director at Stanton Williams, said: “Cambridge Judge Business School is a unique and much-loved building characterised by successive transformations.
“Approval for the first phase of the School’s new expansion will not only safeguard its future as a pre-eminent business school, but also provide a unique opportunity to add another layer to the complex architectural evolution of the site.”