Edinburgh's Ocean Terminal and Royal Yacht Britannia agree new 25-year lease

The move is seen as confirming the vessel’s long-term future as part of the Leith waterfront, linking in with the multi-million pound redevelopment of Ocean Terminal. 

The Royal Yacht Britannia will remain at Ocean Terminal for another 25 years | Marc Millar

Britannia, which attracts more than 300,000 visitors each year, has been berthed at Leith since 1998. The five-star attraction was voted Tripadvisor’s No.1 UK Attraction 2023 - 2024.

The redevelopment of Ocean Terminal shopping centre, which opened in 2001, includes the demolition of the former Debenham’s store and the neighbouring multi-storey car park and construction more than 500 new homes and commercial space, including a Tesco supermarket.

Announcing the new 25-year lease, Chris Richardson, managing director of Ocean Terminal’s owners Ambassador Investment Management, said: “This is a significant development for the reconfiguration of the site, and we are absolutely thrilled that The Royal Yacht Britannia, one of the UK’s most popular visitor attractions, has agreed a 25 year lease with OT. 

“I am in no doubt this will be a formidable partnership, cementing our position as a leading tourist destination on Leith’s waterfront, furthering our ambitions for the wider regeneration of Leith, and the local community around the site.” 

A spokesperson for The Royal Yacht Britannia said:  “We are delighted to have secured the long-term future for The Royal Yacht Britannia in Leith as part of the exciting redevelopment of Ocean Terminal, and we look forward to moving into our state-of-the-art visitor centre and fantastic new gift shop in early 2025.”

Britannia is one of the most famous ships in the world, travelling more than a million nautical miles, serving the Royal Family for over 44 years.