Willmott Dixon has agreed a deal to deliver the project, which will see the building refurbished into a modern, 3,000 plus capacity live music and comedy venue.
Since its opening in 1935, the famous building has hosted the likes of The Beatles and the Rolling Stones, before closing in 1997 after a period as a bingo hall.
Procured through Major Works England and Northern Ireland, a part of the Scape National Construction framework, Willmott Dixon was appointed by Stockton-on-Tees Borough Council to restore the local landmark after the council received a £4.5m grant through the National Lottery Heritage Fund's Heritage Enterprise Scheme.
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Willmott Dixon is also renovating the neighbouring 153 High Street building, a former bridal wear shop, which will provide box office and café bar facilities for the Globe as well as operating as a standalone venue with a small performance area.
Councillor Nigel Cooke, Stockton Council Cabinet Member for Regeneration and Housing, said: "The Globe will be the biggest live entertainment venue between Newcastle and Leeds and will pull an estimated £18million into the local economy every single year. We're ambitious for the borough. If you want to achieve big things you've got to deliver big projects. There's so much public love for the Globe and this is a once in a generation project to bring it back."
Anthony Dillon, managing director of Willmott Dixon in the North: "It is fantastic to be working on the restoration of the Globe Theatre, breathing new life into a really iconic building for the community. We look forward to seeing it become a cultural hub once again for future generations to enjoy."
(CM)
