Diageo has submitted plans to the City of Edinburgh Council to construct a seven-floor visitor centre for the Johnnie Walker whisky brand.

Located on 146 Princess Street, the new centre will be part of Diego’s £150m investment in Scotch whisky tourism.

Diageo has submitted a planning application to the building’s current owner Parabola. The proposal would see the restoration of the existing building and a clock tower on the corner between Princes Street and Hope Street.

Diageo Scotland chairman David Cutter said: “We are incredibly excited to be able to submit our plans for the Johnnie Walker visitor experience in Edinburgh.

“The location is one of Edinburgh’s most exceptional landmark buildings and we plan to restore it to its former glory as a cornerstone of the city and a thriving part of its cultural and social life.

“The location is one of Edinburgh’s most exceptional landmark buildings and we plan to restore it to its former glory.”

“We have the most passionate and skilled whisky-makers in the world here in Scotland and we want to celebrate their craft and everything that is great about Scotland and whisky.”

Parabola managing director Tony Hordon said: “At Parabola we feel like the custodians of a beautiful piece of Edinburgh real estate and we have taken great care to consider its future. 146 Princes Street represents an opportunity to deliver our core values: place, quality and destination.

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“With Diageo and their vision, we believe we have a use which will not only protect the building for many years to come, but it also celebrates the building, its history, and its heritage.”

The plans include a multi-sensory visitor experience across three floors, a flexible events space, a bar academy and roof-top bars. At street level, the company’s plans include retail space.

The project is expected to create around 180 full-time jobs and generate around £135m in tourism.

Diageo is currently investing more than £185m in Scotch whisky experiences in Scotland. The company is also making investments to transform its existing 12 distillery visitor attractions across Scotland.