The 10 year old building was acquired by Manchester City Council two years ago and consists of 83,203 sq ft of lettable office space in three blocks, over three floors in a triangular layout with 272 car park spaces.
The refurbishment work will include reconfiguring the current offices and meeting rooms to create more flexible and innovative workspace.
Additional accommodation will be provided on the ground floor with exposed ceilings and glazed walls to create a refined urban environment, similar in design to the Space and Sharp Projects.
Sir Richard Leese, leader of Manchester City Council, said: “One Central Park is an important asset for the development of the digital sector in Manchester and this work will enhance our competitive position and make the building fit for purpose and a more attractive proposition within the digital sector.
“The remodeling of the building will better serve the needs of the type of companies it is aimed at, and establish a vibrant creative community with space to network and collaborate.
“The investment will not only attract more digital businesses to consider One Central Park as a base, but it will act as a catalyst for further development opportunities across the whole of Central Park. ”
The site is located directly opposite Greater Manchester Police’s North Manchester Divisional Headquarters on Northampton Road and close to Central Park Metrolink tram stop.
Following more detailed design work, it is anticipated refurbishment work will start next summer with completion expected by mid-2018.