New images reveal Lloyds' £200 million transformation plan for landmark Edinburgh office building

Lloyds Banking Group has unveiled ambitious £200 million plans to transform its landmark Scottish Widows building in the heart of Edinburgh into a “state-of-the-art innovation hub”.

The Port Hamilton building on Morrison Street in the city’s west end will undergo a sweeping redesign in partnership with Drum Property Group, to become Lloyds’ main base in Scotland. Located in the heart of the capital’s financial district, the building has been home to Scottish Widows for almost 30 years and will remain the head office for the pensions and investments business after the extensive and eye-watering £200m transformation works complete in a couple of years. The 325,000-square foot complex reaches up to eight storeys, and with its distinctive curved roof, is one of Edinburgh’s landmark office buildings. It will become the financial giant’s main hub, alongside the likes of Citymark and The Mound offices in Edinburgh.

The move is part of a broader group strategy focusing on more sustainable and better equipped offices for hybrid working. It follows the full refurbishment of Lloyds Banking Group’s Bristol office in 2022 and a move to the most energy-efficient office building in Leeds last year.

The Port Hamilton building on Edinburgh's Morrison Street will undergo a sweeping redesign in partnership with Drum Property Group.

Sharon Doherty, chief people and places officer at Lloyds Banking Group, said: “We’re creating modern, inclusive, sustainable and fun workplaces where our people love to work. We’ve already made significant improvements to our offices across the UK, with more to come. And our redesigned home in the centre of Edinburgh will help us connect, collaborate and spark the creativity to deliver great outcomes for our customers.”

The new-look Port Hamilton office will include an upgraded heating and air conditioning system. Amenities will include a café and fitness area. Accessibility will also be a focus of the design, Lloyds stressed.

Chira Barua, chief executive of Scottish Widows, said: “There’s a real buzz in the fintech [financial technology] scene in Scotland and we’re committed to staying right in the centre of it. We’ve made huge progress in connecting customers with their financial futures and we’re starting to see how powerful digital engagement and gamification will be in the future.

“There’s huge potential to help make a real difference for our customers’ lives and we’re right out in front building all the parts we need to innovate in a massive way.”

A new image of how the exterior of the revamped Lloyds/Scottish Widows building should appear.

Graeme Bone, group managing director, Drum Property Group, said: “The £200m redevelopment of Port Hamilton presents an exceptional opportunity for Lloyds Banking Group to upgrade and enhance one of Edinburgh’s landmark buildings and deliver an exceptional working environment for Lloyds colleagues in an unrivalled location.

“We are particularly proud of securing one of Edinburgh’s largest ever office pre-letting deals - the scale, structure, and net-zero objectives of the Port Hamilton redevelopment mark another exciting addition to our proven track record in delivering major office facilities for both corporate and government occupiers.”

Bank of Scotland owner Lloyds recently announced changes across the group including the closure of a major site in Dunfermline. About 1,500 people work out of the Fife base, and they will be asked to either work from home, or relocate to the Citymark building in Edinburgh.

Lloyds to close Scottish office and put hundreds of jobs at risk