Melbourne, Australia’s waterfront precinct is set to undergo a major redevelopment, which will include a host of leisure facilities.

The City of Melbourne, in partnership with government body Places Victoria, has developed a six-part masterplan which will see the construction of a social hub in an effort to attract more markets, televised sporting events and musical performances to the redeveloped area.

The proposal also includes the construction of heritage sheds to celebrate the history of the waterfront, more public spaces and a historic ship to be moored as a visitor attraction.

Also planned in the docklands area is Western Park – an AU$18m (£16.5m, €12.1m, US$16.5m) sporting and community facility for the area which will include a range of leisure and recreational uses for the community.

“Our vision for Harbour Esplanade is a significant public waterside destination that is used every day of the year,” said Places Victoria urban renewal general manager Simon Wilson in a statement.

“To do this, we need to find the right balance between buildings, open and green space, and recreation opportunities which respect the heritage of the Docklands.”

The announcement represents a major step forward, after promises of a rejuvenated docklands had been made for years without anything solid being laid out.

The development of the Harbour Esplanade will be delivered in stages over 10 to 15 years, subject to planning approvals and funding. The overall cost of the project has not been revealed.