The 5.2-acre elevated site is located on Drumfrochar Road and has been lying vacant since it closed in 1997.
Former Rangers directors Sandy and James Easdale, joint owners of the Easdale Investment Group, said they are continuing to invest heavily in Inverclyde, with several planned developments in close proximity to this newly approved site.
The proposed project in Greenock will comprise 47 new homes, with a new double entry point from Lynedoch Street created from the development which will be split across two levels and linked by a path and walkway.
It is anticipated that 40 jobs – including at least 15 apprenticeships – will be created through the construction phase which could last up to two years, with the site identified as a priority place as part of Inverclyde Council’s Local Development Plan.
Sandy Easdale, said: “This is excellent news and a superb opportunity to create an increased housing capacity and support the future economic prosperity of the Broomhill and Drumfrochar areas in Greenock.”
He added: “Other private housing developments close to the Drumfrochar site previously have proven to be extremely popular and this new site will provide superb family homes for locals and new long-term ownership.
“We expect this to be a highly popular development and expect there to be a high level of interest in the site.”
The proposed development further supports the ongoing wider regeneration of the Drumfrochar area, which includes the £3m B7054 road realignment and a £1.8m enterprise hub which were completed in recent years.
James Easdale said: “The ongoing development and economic improvement of this part of Greenock is something we are deeply passionate about and further supports our ongoing investment into nearby areas at Baker Street, Ingliston Street, and Orchard Street.
“This is a fantastic opportunity to bring this historic site back to life while also creating much-needed homes for locals and creating further repopulation opportunities.”
The site was sold by property agents Bowman Rebecchi in October 2021 to the Easdales. Development plans were submitted by Gourock design consultancy firm Rebecchi Architectural on behalf of Dalglen Investments in July 2022, who jointly purchased the site as part of their £900 million countrywide property portfolio.
The refinery was founded in 1896 as Berryards Refinery and operated continuously until 1997, apart from a spell between 1941 and 1946, after which it was extensively rebuilt following air-raid bomb damage.
After its take-over by Tate & Lyle in 1976, it became the last survivor from a group of at least a dozen sugar refineries which combined to make Greenock one of the most important sugar producing centres in the UK.