Over the course of a seven-year period, the 140-year-old, Grade I-listed town hall will be brought up to modern access, safety and energy efficiency standards.
Internationally renowned for its craftsmanship and architectural quality, the building was designed by Alfred Waterhouse in the 1860s.
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Councillor Bernard Priest, deputy leader of Manchester City Council, said: "The Our Town Hall project is a complex, once-in-a-lifetime challenge, which will result in the full repair and upgrade of Manchester’s civic centrepiece.
“We look forward to working closely with Mace and our other carefully selected consultants, as we secure and enhance the long-term future of our cherished town hall.”
Mace has previously worked with Manchester City Council on the transformation of Manchester Central Library and the town hall extension, which was finished in 2015.
The international consultancy and construction company also has many other projects ongoing in the city, such as the Alliance Manchester Business School for the University of Manchester and the UK’s first proton beam therapy centre, for the Christie NHS Foundation Trust.
Steve Gillingham, Mace’s director of the North, said: “Mace’s history is inextricably linked to Manchester – it was the first office we opened outside of London, and where we first cut our teeth on internationally significant project management for the Commonwealth Games in 2002.
“Our experience and record in the North is a key part of Mace’s DNA.
“As a result, we're very pleased to have been awarded a role on this vital project to protect, restore and upgrade such a significant symbol of Manchester’s civic history.
“Working on schemes like this is always challenging, particularly given how closely everyone will be watching – but we’re up to the challenge and looking forward to getting stuck in.”