It has put out the call to contractors interested in bidding for the main construction contract, valued at £35m to £45m.
The site is situated in Bloomsbury next to Great Ormond Street Hospital, at 20 Guilford Street, and is owned by Great Ormond Street Hospital Children's Charity.
The scope of work is likely to comprise demolition of the existing building on the site and construction of a new seven storey building, with five levels above ground and two below.
The new building will house 5,500 square metres of laboratories, manufacturing facilities and clinical offices. The development will also provide much-needed outpatient clinical space, “completing the translational research circle from pure research to practical patient treatment”, the redevelopment team says.
The works will be procured under a two-stage design and build tender and should take 32 months to complete from award of the contract.
Architect Stanton Williams was appointed to design the building in April 2013.
The Children’s Rare Disease Research Centre will bring together clinicians from Great Ormond Street Hospital and researchers from University College London, in particular the UCL Institute of Child Health, to learn more about rare diseases and development new treatments.
It will form part of the third phase of a four-phase redevelopment of Great Ormond Street Hospital, which has already provided the new Morgan Stanley Clinical Building and will see construction work start on a second new clinical wing for the hospital next year.