OCEAN Terminal has entered a new chapter in its Leith waterfront evolution, as Ambassador Group establishes 100% ownership of the centre via a refinancing arrangement and the ongoing backing of an institutional funder.
The centre has undergone significant transformation, supported by a £17 million investment in its reconfiguration, enhanced customer facilities, sustainability upgrades, as well as attracting a leisure-led tenant mix.
Works completed include the demolition of the former multi-storey car park and Debenhams unit, a new footbridge for The Royal Yacht Britannia and a new glass-fronted entrance. Sustainability upgrades include new EV charging stations in partnership with SSE and a transition to LED lighting.
Chris Richardson, MD of AIM, Ambassador Group’s investment management division, said, “The significant investment that has been made in the centre, combined with the long-term leases not only our existing tenants have committed to, but also new tenants coming in, reflects confidence in OT as a revived leisure, retail and community hub as well as Leith waterfront as a thriving destination.”
OT is currently anchored by a 12-screen Vue cinema, The Royal Yacht Britannia, Club 3000 Bingo, PureGym, and a mix of retail and F&B brands. Tesco Express opened in 2025, while the NHS Vaccine Centre has operated from the site since 2020. The entertainment venue Gutterball is preparing to open before the summer.
Mr Richardson added, “Our newly established ownership of the centre allows us to deliver on our ambitious vision, establishing OT as a vibrant, pedestrian-focused waterfront destination that brings together a significant new housing provision alongside the Centre’s leisure, community, F&B and retail spaces for everyone to enjoy. We are excited to lead this next chapter of growth and create a Centre that truly anchors the Leith community and local economy.”
