The six floor facility has been designed by Nicholas Hare Architects.
It is to include 1,000 study places for students, a Student Enquiries Centre, a cafe and a space for exhibitions.
The development is at the heart of the university's campus in Bloomsbury and set between the UCL Bloomsbury Theatre and listed buildings.
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Mace will therefore need to maintain circulation around the site for students and staff throughout construction.
Terry Spraggett, Mace Business Unit Director for the Public Sector, said: "We're delighted to have been appointed to deliver a building that will have a really positive impact on thousands of students for generations to come. The project plays to our strengths of working within constrained sites and using innovative methods of construction to mitigate the impact of our work on the surrounding community."
The London Borough of Camden's Planning Committee has resolved to grant planning permission and works are due to start this autumn, with the main construction works due to start in summer 2016.
The project will be completed by autumn 2018.
(LM/CD)
