The brothers acquired the 5.42-acre property on Port Glasgow Road as momentum builds for the area to become a prime port amid significant investment by neighbouring Peel Ports which recently unveiled two new £25m ship-to-shore cranes.

The property comprises a large industrial complex originally developed in the late 1960s / early 1970s. The complex extends to 117,816 sq ft and comprises a two-storey office building and a series of inter-connecting industrial buildings of varying age and construction together with a yard and car parking areas. The site extends to approximately 5.42 acres.

James Easdale said: “Our family have always been very close business-wise to the waterfront and we have been watching intently as it is clear that major players such as Inverclyde Council and Peel are determined to take the port back to its glory days.”

Brother Sandy added: “Technically speaking the Berry site wasn’t actually on the market but we made an approach and it’s all come together.

“We are in no doubt that as the waterfront activity multiplies there is going to be a huge demand for support jobs and services and we will be ideally placed to provide accommodation and working space for companies big and small who want to be part of the action.

“It’s a pity we didn’t get Freeport status from the previous government however if government won’t help us it’s up to us to help ourselves.”

This latest deal adds to the billionaire brothers’ growing portfolio of residential and commercial developments across Scotland. It now includes 850 homes being built on a 130-acre site at the former Tullis Russell papermill in Glenrothes, and the rejuvenation of the 70-acre former IBM site in Greenock, with planning consent in place for 450 homes.

Only last week the Easdales announced the 64-house development at Balrossie in Kilmacolm, which is valued at £20m on completion.

Work is also well underway at the former St Michael’s Primary School site in Dumbarton, with 81 new family homes under construction.