A Titanic complex of shops, homes and restaurants is destined to cruise into the heart of Brighton's trendy North Laine.

Larrik Property, part of the Oracle Group, believes the £30 million scheme would help further revitalise the popular district of the city, famous for its collection of small, independent and unusual shops.

Resembling a landlocked luxury liner of steel and glass, the main structure in Jubilee Street would be home to 11 shops and a complex of restaurants.

The 23,000 square metre building, which has already been given the nickname Titanic, forms part of a larger scheme that includes a new city square, library and a 94-bedroom hotel.

Larrik Property bought the derelict site for £7.25 million and director Neil Johnson said retailers have registered interest in the plans.

He said: "This speculative development would provide occupiers with greatly-needed modern retail, restaurant and office space which is a scarcity in North Laine and generate a vibrant new residential quarter.

"The scheme would assist in regenerating this part of the city and enhance Brighton's image as a quality destination."

Titanic is the latest 21st Century vision for Brighton and Hove dreamed up by architects.

It joins a wood and glass Olympic skating arena and a spa hotel, both of which have been proposed for the derelict Black Rock site, and Karis Developments' two controversial proposals for the King Alfred site in Hove and the corner of North Road and Cheltenham Place, also in the North Laine district.

While these schemes, both large blocks of flats, have been branded Tin Can Towers and Banana Blocks by opponents, the Larrick development has largely avoided criticism.

Selma Montford, secretary of the Brighton Society, sent 1,000 letters urging neighbours to object to the Karis plans for North Laine but gave Jubilee Street a cautious welcome.

She said: "We are keen on the library but we need to look at the scale and usage of the shopping and restaurant complex.

"I hope it will not mean large chain stores moving in because the character of North Laine is defined by the small, specialist shops.

"Brighton is very lucky to have an area like this and we need to protect it."

Shop owners in North Laine were not too concerned.

Peter Stocker, secretary of the area's traders association, said: "We aren't worried about the competition because as small businesses we have a lot to offer.

"Jubilee Street has been derelict for too long.

"But we would like to see other streets around here, particularly Gardner Street, upgraded while this complex is being built."

The library is due to open by the end of next year.

Work on the rest of the development is expected to start next spring and in autumn 2005.