RETAIL bosses say five new shops have given the Oak Mall a new lease of life and will 'enhance' the up-for-sale shopping centre.

New tenants include gifts and stationery chain The Works, who have taken a five year lease and value retailer Poundstretcher, trading as Bargain Buys, who opened last week after agreeing a five year deal.

Additionally, electronic cigarette retailer Vapourohm have taken a 700 sq ft unit also on a five year term while newsagents Oak News have acquired over 1,600 sq ft and American Candy are to occupy 2,000 sq ft.

It comes as the Mall faces an uncertain future having been put up for sale for £14m, less than half of the fee paid by the current owners Lunar Greenock Sarl just a few years ago.

Iain Minto, the Director of M&M Asset Management, said: "The leasing team at Oak Mall are delighted by the new additions to the tenant line-up in Greenock.

"We continue to work with new and existing occupiers to ensure that the trading environment at Oak Mall meets the needs of the town centre.

"We welcome the new retailers and we are confident they will further enhance the current retail offer."

It has also been revealed that Santander and TUI have renewed their existing leases for a further ten years and five years respectively, while Inverclyde Disability recently relocated larger premises.

Primark and the 3store have also invested in new store designs for their premises.

John Conroy, retail agency partner at Ryden, added: “With over 50 shops, Oak Mall is Inverclyde’s premier covered shopping centre, offering exceptional opportunities for both retail and non-retail uses.

"We are continually encouraged by the level of interest in the shopping centre from both new and existing occupiers, notwithstanding what is generally acknowledged to be a tough retail market."