The scheme involves building around 20,000 sq ft of office space, along with a theatre, underground car park and public square around the entrance of Calverley Grounds in the town.
Designed by Allies and Morrison, work is scheduled to begin in 2019 with completion scheduled for 2021.
Council Leader David Jukes said: "I am really delighted that Mace has been chosen as our lead contractor. They came out on top throughout the procurement process which placed an emphasis on quality as well as price. I have great confidence that Mace will complete this project on time, on budget, as they have done before with other capital projects."
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Terry Spraggett, Mace's Director for Public Sector Construction, said: "It's an honour to be chosen to deliver such an important project for Tunbridge Wells Borough Council – one that will provide a first-rate new theatre and public square for the people of the borough, as well as much-needed new commercial office space and parking.
"I look forward to working closely with the Council as the project progresses. We are particularly conscious of the sensitive setting and the need to deliver this project with minimum disruption to neighbours."
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