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Three construction managers are vying to restore and build a new visitor centre around the historic Cutty Shark clipper ship in Greenwich, south London.

Gardiner & Theobald Management Services, Heery Internationald and Mace are competing for the £22m job, which is due to start on site in November. The scheme's project team includes QS Walfords and project manager Hornagold & Hills as well as architect Grimshaw, structural engineer Buro Happold and services engineer WSP.

The scheme received a boost last week after the Heritage Lottery Fund confirmed a committment of £11.75m towards the overall £25m budgeted for the project. The scheme, expected to take two years to complete, will preserve the fabric of the ship itself, which has been decaying in a dry dock in Greenwich for the last five years. The 19th century vessel will be lifted and suspended three metres above her current position, allowing visitors to walk, dine or dance under her and for the first time to appreciate the shape of the ship. A glass bubble surrounding the ship will give year-round protection to visitors.

The client Cutty Sark Trust said the scheme was very ambitious. It is still seeking £3m in funds towards the overall £25m investment needed. Project director Richard Doughty said: "This project is going to be one of the most dramatic representations of an international icon ever attempted. Our purpose quite simply is to secure the future of the ship and to give visitors a truly awe-inspiring experience."