Millennium Point in Birmingham is planning to target the city's conference and events sector by carrying out a major renovation of its base in Eastside.
Management at the venue are undertaking a wholesale revamp costing "at least £1 million" to convert empty space into a new base to host private corporate events.
The building, which is famous for its ThinkTank science museum and is celebrating its 15th birthday this year, is currently only able to host business events in its open foyer area.
Chief executive Judith Armstrong said it was important to be able to offer closed space for private events and conferences as Millennium Point prepares for a new future with HS2 on its doorstep.
She said: "There is an exciting future at Millennium Point as we have a very clear strategy for the next ten years in the build-up to the arrival of HS2 focussed on three key areas - enhancing, engaging and growing.
"Over the next 12 months, we are spending a significant amount of money improving the building such as the air conditioning and replacing lights.
"It is almost fully let but there is empty space which we are going to refurbish and turn into our own dedicated, private conference hub for both days and evenings events.
"From next year, we will go from only being able to run events in the open atrium to having a dedicated space with breakout areas able to accommodate between 60 and 100 people, aimed squarely at the business and corporate market.
"We will also be carrying out refurbishment work in the foyer to create a multi-purpose space called 'The Platform' but it will still be able to hold events. It's a 15-year-old building and now is a good time and opportunity to do this."
Millennium Point opened in September 2001 and was built at a cost of £114 million through a partnership between Birmingham City Council, Birmingham City University - then called University of Central England - and Birmingham Chamber of Commerce.
It was designed by architecture firm Nicholas Grimshaw and Partners, the practice behind redevelopments at Euston and Waterloo stations in London and Eden Project in Cornwall, and has welcomed more than 15 million visitors since opening.
Birmingham City University and its school of acting and recruitment agency Unitemps now also call it home.
In 2026, it will be one of the first things travellers see when they alight the new high-speed rail line HS2 from London, placing it in a prime position to target Birmingham's ever-growing business community.
Ms Armstrong added: "We're welcoming more than one million visitors a year at the moment and events are a real area of growth for us.
"During just the past four years, we have hosted over 400 different events including commercial, public and cultural and we've just had our best year so far in terms of profits."
However, Mrs Armstrong said big screen cinema would not be making a return to Millennium Point.
She said the Giant Screen Cinema, which shut in early 2015, had become a financial drain on the venue and a lack of footfall meant it was never going to return.
At the time the closure was announced in autumn 2014, then chief executive Philip Singleton admitted the screen, which used to be run by Imax, had never come "anywhere near to breaking even".
Ms Armstrong said: "It was a really difficult decision because everybody loved it but we made a loss every year it was open and it just became a distraction because people kept asking themselves 'How can we make this work?'
"We couldn't make it a success which was a real shame."