The Dreamland Trust is to unveil its plans to establish the world's first heritage amusement park in Margate, Kent, on the site of the former Dreamland Amusement Park.

Levitt Bernstein Architects, together with Paris-based theme park designer Jean-Marc Toussaint, is behind designs for the proposed £12m attraction, which will be built around the Grade II-listed scenic railway, one of the oldest rollercoasters in Britain.

The trust, which administers the Save Dreamland Campaign, first unveiled plans for the amusement park in 2007, which will include some of the last surviving examples of well-known rides.

Nick Laister, chair of the Dreamland Trust, said: "We were successful in winning a DCMS 'Sea Change' grant last year and, with additional funding from Dreamland's owners – Margate Town Centre Regeneration Company – and the Margate Renewal Partnership, we have been able to appoint specialist advisers who are starting to bring our plans to reality.

"Dreamland will recreate a large, thrilling permanent seaside amusement park of the sort that could be found around the coast of Britain throughout most of the last century, but has now largely disappeared."

The Prince's Regeneration Trust and Locum Consulting have carried out feasibility studies into the scheme, which has also involved Thanet District Council.