Plans to create a financial and creative business zone in the centre of Brighton have been unveiled.

Economists commissioned by Brighton and Hove City Council have recommended that a new office quarter be built around New England Street to provide commercial space for 7,000 new jobs.

Up to 20,000 square metres need to be built in the city over the next 20 years, and economic consultants Tym & Partners, University of Brighton and property consultants Cluttons have urged the council to look at the creation of "a city centre office quarter."

The panel of experts said: "A city centre office quarter is more difficult in market terms but better fits with Brighton's role as a city.

"Land is limited, as it is everywhere in the city, but the New England Street area appears to have some redevelopment potential.

"There appears to be a window of opportunity for this location, which may not last indefinitely."

The £50,000 report, released this week, warns that Brighton's economy is under performing and that it will have to absorb almost 20,000 new employees over the next 20 years if it is to reach its potential.

The city can cope with the growth in employment levels for the next ten years, if major development programmes in Patcham Court Farm and Preston Barracks are completed, but after 2016 new office buildings need to be identified.

Councillor Gill Mitchell, who chairs the environment committee which will be discussing the plan on Thursday, said: "It is information for our local development framework. We do need good office spaces. Any plans to build large offices would need to be near transport."

The investigation reveals that Brighton's position as an employment centre has worsened over the past decade, partly because of rising house prices.

Brighton and Hove has become much less affordable in a short period of time, and in 2005 it became the least affordable town in the South-East, bar Guildford, according to the report.

In the next 20 years, more than 6,600 jobs are expected to be created in business services, including accounting, architecture and engineering.

A similar number of new posts are expected in "other services," such as new media and creative businesses.

A spokeswoman for the council said: "We will be using this information to develop policy through the Local Development Framework, so we wouldn't want to add any more about it at this stage."