Work at the White City site in West London involves retention of the Grade II-listed parts of the building while a number of perimeter buildings will be demolished and redeveloped into a mixed-use scheme including office and studio space for the BBC.

Lend Lease has a long history with the BBC having previously delivered its £500m MediaCityUK studios in Salford and the £450m refurbishment of Broadcasting House in London.

Simon Hipperson, Chief Executive of Lend Lease in EMEA, said: “We are excited to be working with the BBC again and we look forward to strengthening further the relationship that delivered MediaCityUK in Salford and Broadcasting House in London.

“This latest success continues the strong progress we have made so far in 2013.

“We started the year by announcing the £170m contract to build Kings Gate House for Land Securities and have also taken major steps forward on our £1.5bn Elephant & Castle project. The first cranes will go in the air at One The Elephant next month.”