UK-based developer Stanhope has selected construction firm Mace to redevelop the BBC Television Centre at White City in West London at a cost of £400m.
Under the deal, Mace will transform the building into a mixed-use development centre with space for businesses, a hotel, cinema, gym, restaurants, cafés and 950 homes.
Stanhope CEO David Camp said: "For the first time in 50 years, the site will be opened up creating access through the site essential in enabling Television Centre to become the hub of an evolving district.
"Together with the BBC's continuing presence on the site and the addition of Soho House, we believe that Television Centre will be a great place to live, work and visit."
Soho House will feature 47 bedrooms, a roof terrace, swimming pool and associated restaurants. Construction will begin in April 2015 after the BBC vacates the site.
The BBC will remain at the centre, operating studios one to three through its subsidiary BBC Studios and Post Production, whereas BBC Worldwide will make its new home at Television Centre after the refurbishment of stage six of the building, which is being handled by Lend Lease.
Mace CEO Mark Reynolds said: "Continuing our long established relationship with Stanhope and Mitsui Fudosan is tremendous and we are looking forward to working with AIMCo, helping everyone transform the iconic Television Centre into a vibrant new community in west London."
The first phase of the scheme will be completed and occupied by 2017.
Image: BBC Television Centre at White City in West London. Photo: courtesy of Mace.