Urban regeneration company, Riverside Inverclyde, has unveiled its plans for the £180m redevelopment of the 50-acre (20.2-hectare) James Watt Dock in Greenock.

In partnership with property and transport company, Peel, the project is set to be one of the largest ever regeneration projects in Scotland, and will be centred around the Category 'A'-listed Sugar Warehouse. The scheme is expected to take 10 years to complete, and is set to include a marina boasting more than 400 berths, and enhancing 480m (1,575ft) of waterfront. A housing development, retail and commercial spaces are also set to be created.

Work has already started on reviving the 125-year-old Sugar Warehouse, with improvements to the building's red brick boundary wall, as well as work to make the site wind and waterproof. Road access to the site is now set to be created, and site investigations and environmental improvements will be carried out to enable the first stage of development to take place ahead of the 2011 Tall Ships Race.

Chief executive of Riverside Inverclyde, Bill Nicol, said: "Gradually this project will transform an area that in former days was the absolute hub of Greenock. Through this project, we will be building one of the most vibrant locations in Scotland to live and work." Peel's Euan Jamieson added: "Planning applications are now being prepared, including a masterplan with an environmental impact statement to ensure all issues are fully addressed. This is being done in full partnership and consultation with Inverclyde Council."