The site, originally occupied by store chain Somerfield, is to undergo major development work within the next few months.

Dan Mason, of Realm Developments, which already operates the Freeport complex near the site, is hopeful that by 2009, the old supermarket building will house several "attractive high street names".

The Cheshire based Realm development agency is waiting for Wyre Council to publish its new retail study for the Wyre area.

Mr Mason said: "Following this, we hope to submit our plans to the council and get things moving. We are hopeful the development will bring new jobs as well as new customers to the peninsula, particularly shoppers who may not have visited Fleetwood before."

But Mr Mason does acknowledge that within the current credit crunch, the development has been slower to evolve then he had originally hoped.

He added: "It is harder to work on something like this today, but we still hope we can deliver something positive for Fleetwood."

The site has been vacant for nearly two years following the closure of the Somerfield store, which experienced a down turn following the opening of Asda.