The refurbishment of Cleveland Business Centre will reinvent the three storey building, offering 50 new units with modern conference facilities and on-site car parking for up to 50 vehicles.
In addition, a fully-functional gymnasium will be built for the use of tenants, staff and their families, with shower and locker room facilities available, as well as a secure bike park.
The development will be managed by Linthorpe Developments, who expect the refurbishment to be completed in June.
Geoff Hogg, managing director of Linthorpe Developments, said: “We are now hoping to create another thriving business community with state-of-the-art facilities and high quality office space available to tenants.”
The centre is currently home to a range of businesses from professional services and it is hoped that the refurbishment will attract a new mix of established firms, as well as being an ideal location for start-ups.
“We are already receiving a great deal of interest amongst potential tenants, which will hopefully lead to the creation of jobs in the community and more businesses coming to Middlesbrough.,” added Mr Hogg.
“The business centre has great potential and will aid the local economy in the long-term.”