FERGUSON'S is moving into Greenock - after signing a four year lease at a large waterfront warehouse owned by the Easdale brothers in Cartsdyke Avenue.

The Port Glasgow shipyard, recently nationalised by the Scottish Government, will use the 77,000sq ft unit for storage premises.

Bosses say this will 'consolidate inventory' held in several warehouses near Glasgow Airport and allow them to implement upgraded stock control processes.

Two extra employees have been recruited to operate the new warehouse, which will become the delivery point for most of the equipment ordered by the yard.

The letting is one of the biggest industrial site deals in Scotland so far this year.

The deal was brokered by Avison Young on behalf of Ferguson Marine and joint-agents Colliers, Bowman Rebecchi and Breck Sutherland, who acted on behalf of the landlord, Easdale family investment arm Dalglen.

Tim Hair, recently-appointed turnaround director at Ferguson Marine, said: “This is an important milestone for Ferguson and is the first physical change in the recovery of the business.

"Inside the yard, improvements to the way the business operates are under way and I look forward to moving from reworking the ferries to doing new work, as planned, in the summer.

"Ferguson remains committed to the area and we are glad to have the opportunity to bring our stock close to the shipyard and back into Inverclyde."

Pete Harding of Avison Young believes the lease will help Ferguson Marine grow.

He said: "The upgraded warehouse and manufacturing facility will support their business operations by providing them with extensive industrial space and one which is in close proximity to their Port Glasgow headquarters.”

In a statement, Dalglen directors Sandy and James Easdale, who purchased the building for around £1m in June 2018, said: “This is a huge boost for the local economy and further repays the faith shown in acquiring the site and the further investment since committed.

“We believe this is an opportunity to further support the growth of the yard and ensure further jobs both directly and indirectly via Ferguson’s supply chain.

"This is just one of the investments that Dalglen has made over the past few years in Inverclyde, and we believe it provides a fantastic opportunity for businesses to grow.”

Colin McManus of Colliers said: “This is the largest industrial property letting in Inverclyde for 16 years and represents a significant reduction in the total availability of space in the area."