MILLIONAIRE Greenock businessmen Sandy and James Easdale hope to start work on their proposed massive development at the former IBM site this year.

The brothers have partnered with a building firm to draw up an ambitious plan for a £100m transformation of Spango Valley which would create hundreds of new homes, generate employment and provide retail space and leisure facilities.

The planning application was lodged last month and the applicants now say that if the green light is given work will begin before the end of 2020.

It's expected that the project would take around 10 years to complete.

A statement lodged with the plans says: "The indicative construction programme for the proposed development is anticipated to span approximately 10 years, subject to market influences.

"Construction of the proposed development is anticipated to commence in 2020, subject to gaining planning permission, with indicative completion year of 2030."

The Greenock businessmen snapped up the land in a £1.5m deal in December 2018.

They say their blueprint has the potential to give a 'huge boost to Inverclyde, providing quality housing and commercial space that will be attractive to those already in the area as well those looking to relocate here'.

The proposed development includes 450 new homes, 15,000 square metres of land designated for employment plus room for retail and leisure and a pub/restaurant.

There would also be a park and ride with 85 spaces for vehicles beside the railway station, which would be reopened under the scheme, and open space parkland.

The planning application also includes upgrading the road junction with the A78 on the east side of the site, including traffic lights with a pedestrian crossing, and pedestrian/cycle routes would be established through the site.

In their statement the developers say: "Our vision seeks the sustainable redevelopment of a brownfield site, creating a new village and community with exceptional access to open space and recreation, local retail and employment with sustainable transport on its doorstep.

"While the predominant height will be two storeys, apartment blocks of up to four storeys in height or townhouses set at three storeys will be appropriate in central locations.

"The relationship between the new community and its environment is a key characteristic of the proposal.

"All streets will have views towards open space and landscape, with amenity areas no more than 100 metres from anyone’s front door.

"This mixed-use community will also benefit from the opportunity to access the wider green network which surrounds it."

The proposal is due to go in front of a meeting of the Inverclyde Planning Board in the coming months.

A separate proposal to flatten the last remaining former IBM building on the site - the 'blue shed' call centre - was lodged at the beginning of the year in a bid to pave the way for the cleared site to be fully regenerated.