“Our ambition is to create a visitor experience that will rank not only as one of the greatest whisky attractions of the world, but one of the greatest brand attractions in any industry, putting Scotland at the forefront of the global boom in experiential travel.”

Parabola managing director Tony Cordon, 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.

“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. We are particularly excited to be working with the Diageo team given our shared values and our sheer ambition to celebrate one of Edinburgh’s great buildings.”

Diageo says it is currently investing over £185m in Scotch whisky experiences in Scotland. As well as the Edinburgh location, the company is also investing to transform its existing 12 distillery visitor attractions across Scotland and a £35m investment to reopen the Port Ellen and Brora distilleries.

Whisky from Diageo’s distilleries all over Scotland contribute to Johnnie Walker, but four distilleries - Glenkinchie, Cardhu, Caol Ila and Clynelish - will be linked directly to the Johnnie Walker venue in Edinburgh, representing the ‘four corners of Scotland’ and the regional flavour variations crucial to whisky blending. Together these sites will create a Johnnie Walker tour of Scotland, encouraging visitors to the capital city to also travel to the country’s extraordinary rural communities.