Business news in brief: Diageo | Buccleuch | Aptiv Solutions

Published on 06/09/2012 01:04

Diageo chief executive Paul Walsh saw his total pay package more than double to £11.2 million last year after an 88 per cent rise in the drinks giant’s shares over the last three years boosted his rewards from long-term incentive schemes.

The chairman of Diageo’s remuneration committee, Lord Davies of Abersoch, defended the big rise in the context of Diageo’s share performance and its dividend payment history.

Buccleuch sells its stake in Blackness

Buccleuch Property has sold its holding in the Blackness Industrial Estate in Aberdeen for £2.95 million.

The estate, which is home to a number of oil and gas companies, has been bought by CBRE Investors for the Falcon Property Trust.

Nick Waugh, commercial property director for Buccleuch, said the group “moved rents on” in the five years it managed the site and exited at a profit.

Life sciences firm extends lab lease

American life sciences firm Aptiv Solutions has extended its lease at the Discovery Terrace development on Edinburgh’s Heriot-Watt Research Park.

The company has extended its initial five-year lease on the 3,500sq ft office and laboratory until 2017, with the rent set at £14.75 per sq ft. Iain Mercer, managing director at landlord Cosmopolitan Investments, said: “This is a crucial tenant to secure for the longer term.”