The Express reported last week that more than £10m was needed to complete the long-delayed road, meaning the plan to connect the motorway and the town seemed to recede even further into the distance.

A timescale of at least seven years was also given for the work, which was supposed to be carried out when the Cypress Point development was created more than five years ago.

However, now Kensington Developments say they could provide a solution which would enable the road to be built.

One section of the road has been finished but the southern section – removal of the dogleg by completing the Regent Avenue Development Link – and central section, for which there is no funding, have not been done.

In a letter to The Express, Malcolm Hawe, of Kensington Developments, says: “It is true that funding is not available for this much-needed road.

“In the next few weeks we will be submitting a planning application for the residential development of land we own between Queensway and Wildings Lane.

“As part of this application we will be accepting the obligation of providing the county council with the £20m they require for the construction of the road from Cypress point to the M55, a roundabout at Queensway and the East/West road, linking Queensway to the Cypress point/M55 road.”

The Lytham company also says the money can be ready straightaway and will have a real impact on the project and be a positive thing for residents and commuters.

The letter continues: “This funding will be immediately available and will bring about the construction of these long- awaited roadways, together with many economic, safety and convenience benefits.”