THE Edinburgh headquarters of drinks giant Diageo has been sold by the landlord for £6.55 million
Around 200 staff at the Lochside Way site will transfer to a nearby building in Edinburgh Park in November following the sale to Northwood Regional UK.
Stephen Kay, of CuthbertWhite said: “This building is probably one of the most connected within Edinburgh Park, being adjacent to Edinburgh Park Central tram station and will benefit from Northwood’s ability to reposition the asset following Diageo’s departure.”
READ MORE: Diageo whisky centre will tell story of pioneering women distillers
The firm said the Edinburgh office market “continues to be challenged” by a shortage of Grade A office space.
The sale was managed by CuthbertWhite. Northwood was advised by Savills, while Brodies LLP represented the seller and Dickson Minto advised the buyer.
Diageo, which said it was not involved in the sale of the Edinburgh Park building, currently has plans lodged with Edinburgh City Council to transform the former House of Fraser in Princes Street into a seven-floor whisky tourism and visitor experience.
CuthbertWhite has transacted in excess of £90m of Edinburgh office investments over the last 18 months, including Apex 123, Haymarket, Greenside, Blenheim Place and 9-10 St. Andrew Square.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here