The wholesale refurbishment of the Grade II listed CIS Tower will provide 336,500 sq ft of Grade A office floorspace.
The project will see the former headquarters for Co-operative Insurance Society completely reclad, given an internal refit and be renamed.
Devonshire (CIS Tower), an entity of Castlebrooke Investments, bought the iconic building in 2017 for around £60m and now the Co-operative Bank will vacate it this Autumn.
The tower, which was built in 1962 at a cost of £4m, comprises a five-storey podium block, a 26 storey main office tower connected to a 28-storey service tower, fronted by a large plaza onto Miller Street.
Ramboll is acting as the facade engineer while Paragon Building Consultancy drew on the 77-week refit programme.
The developers hope to gain planning this year to start facade replacement before the end of the year. The internal fit-out is expected to get underway at the start of 2021.