Ocean Terminal accelerates Waterfront vision as Ambassador Group takes full control

Ambassador said the move marks a decisive step forward and reinforces its long-term commitment to the area, providing renewed momentum for the Centre’s reimagination.

The Centre has undergone significant transformation, supported by a £17 million investment in the reconfiguration of the Centre, enhanced customer facilities, sustainability upgrades, as well as attracting a leisure-led tenant mix to the Centre. 

Works completed by the group 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 to the Centre. Sustainability upgrades across the Centre include new EV charging stations in partnership with SSE and a site-wide transition to LED lighting - supporting a more energy-efficient operation as the Centre enters its next chapter. 

OT now emerges from this development phase as a refreshed and future-focused Centre, ready to welcome a new generation of leisure, retail and lifestyle operators. 

Chris Richardson, managing director 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.

“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.”