A ferry will transport visitors from the CBD to Chapel Street as part of a newly released master plan to restore the tired shopping strip to its glory days.

Under the master plan developed by Stonnington City Council, a ferry terminal would be erected on the Yarra River at the northern end of Chapel Street at the intersection of Alexandra Avenue.

The terminal would form one of two major gateways to the shopping strip in a bid to attract visitors to the precinct, which is described in the report as ''rundown'' and ''outdated''.

Once a shopping destination for interstate and overseas visitors and a hot spot for emerging and established Australian designers, Chapel Street is now in desperate need of a makeover.