London Business School bought the building from Westminster City Council in 2013. The 11,500m2 redevelopment will create a triangle of educational facilities between Sussex Place, the Taunton Centre and Old Marylebone Town Hall.
Wates’ work includes partial demolition followed by restructuring of the former Westminster Council House and annexe buildings, plus the construction of new auditoriums.
The development is part-funded by a £25m donation from Israeli billionaire Idan Ofer who recently relocated to London.
Sheppard Robson has designed the project to preserve the building’s early 20th century period features. The new three-storey building will have six lecture theatres, 35 seminar rooms, a library, offices and faculty spaces.
Wates Construction London managing director Phil Shortman said: “It’s an honour for Wates to be entrusted with the preservation of such an iconic landmark and we are very much looking forward to working with London Business School and Westminster City Council to breathe new life into this exceptional building.”