Consultants have produced a 116-page report outlining the regeneration of one of the best-loved seaside towns in the county, with a view to making it a major draw for water sport enthusiasts and traditional visitors alike.

The masterplan has been created by Building Design Partnership, which was commissioned by West Norfolk Council, and a public presentation will be held next month for local residents to get involved.

The plan divides the resort into seven key areas in need of work – and starts with The Green, north promenade and old pier. This area should be used to develop the town's water sports attraction and it suggests supporting the town sailing club for a major cash bid to improve facilities and equipment.

The consultants say the town could be rebranded as a water sports venue while hotel and restaurant partners should be included to make a "more complete offer".

The Green, described as a natural amphitheatre, should be used to encourage community events to improve the night-time economy while protecting the conservation area status.

But the pier is unlikely to be rebuilt – the report says the possibility of creating a viewing platform to the sea side of the current building should be discussed with the owners.

It is "a focus of considerable public interest and feeling," and "plays a considerable role in the future of Hunstanton, but, when weighed against the benefits it would bring, it holds only a relatively modest development potential," said the report.

Hunstanton town councillor Clive Dellino, said: "Hunstanton has so much to offer and this masterplan will help us to unlock that potential."

Another area outlined for regeneration is the Old Garage and bus station site which should be "redeveloped in their entirety" with a feasibility study into underground parking on the site. The bus station should be moved and discussions with landowners should be a priority, say the consultants.

The seafront area should see the end of the South Promenade car park for cafés and restaurants while the Oasis centre should be enhanced with a café and decked area.

The old Kit-Kat club site should be a mix of commercial uses, while the possibility of putting the life-saving centre at the location should be considered.

The area around the Sea Life Centre could be used to provide a visitor centre to make an "educational" end to the resort.

The coach park at Southend Road could be developed and the southern seafront should be redeveloped with refurbishment of the promenade with leisure uses including cafés and restaurants.

Transport is a key issue but the possibility of a rail link with Lynn is unlikely as some of the line has been built on and the cost of a new link would be huge. Bus services should be improved and guaranteed links with train services in Lynn established.

Tourist cars should be directed to the cliff car park, a potential park-and-ride site, along with long-stay coaches.