The group plans to transform the One Redcliff Street building into a modern commercial office facility.
Features include building a new floor at roof level to create a suite of high-specification meetings rooms and increasing net lettable space by over 10% to 95,800 sq ft.
ISG has begun strip out work on vacant floors of the 14-storey structure, including remodelling the main reception area and replacing the building's lifts.
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Mechanical and electrical services will also be stripped out and upgraded with modern and efficient infrastructure. New steelwork will be installed to build an additional floor at roof level and stepped back from the existing façade.
Graeme White, ISG's divisional director, said: "The regional office market is continuing to grow in confidence, with significant inward investment and a focus on attracting major domestic and international organisations.
"There are significant opportunities in these key conurbations and a growing demand for our fit out expertise, as recent wins for KPMG in Leeds and Manchester demonstrate, so we are delighted to be adding to our portfolio of projects for Aberdeen Asset Management in Bristol."
(LM/JP)
