Abrdn has acquired 145 Princes Street in Edinburgh for more than the £31.5m asking price.
The landmark property, which is located at the junction of Princes Street and the city’s West End, houses the Johnnie Walker Experience – the flagship experiential retail and tourism destination for Diageo’s whisky brand.
The 74,895 sq ft former bank and department store building is let to Diageo Scotland until August 2044 and generates a current annual rent of £1.85m.
JLL was appointed to market the “unique opportunity” last year seeking offers of more than £31.58m.
Lismore Real Estate Advisors advised abrdn on the acquisition.
