Developer iCity has also renamed the scheme Here East.

The site will be a new one million square feet home for the creative and digital industries.

The Enquirer understands that Carillion, Laing O’Rourke and Mace are leading the race for contracts worth £150m to convert the buildings.

A statement from the developer said: “Here East intends to select its preferred contractor in March 2014 with construction work on the former Press and Broadcast Centres beginning in the summer of 2014.”

The work is believed to have been broken down into two contracts being contested by the trio.

The main reconfiguration contract is worth £90m.

A separate £60m fit-out deal is also up for grabs for main tenant Infinity who are looking to host a massive data centre at the site.

Gavin Poole, CEO of iCITY, said: “I am delighted that our designs and plans to develop a world-leading cluster for cutting-edge creative and digital companies have been approved.

“As well as creating thousands of jobs and training opportunities, Here East will provide state of the art infrastructure and capacity for the fastest growing sectors of the UK economy to continue their impressive expansion.

“Redevelopment of the buildings will begin in the summer.”