70 per cent of respondents to December's public consultation are also being reported as saying that the current traffic system performs poorly, with many commenting that is it unpleasant or difficult to use and navigate.

However the initial consultation also indicated a number of areas of concern to local residents, including journey times, rat running and problems around local access to the town centre. Detailed information about the two-way operation of the road network, surrounding public realm, and new cycling and pedestrian facilities along Wandsworth High Street will be the focus of a secondary public consultation at the end of 2015.

Subject to the outcome of this consultation, work could begin as early as 2017 and be delivered during 2019.

The Wandsworth Town regneration zone is being funded by £1billion in new investment - the vast majority from the private sector. Changes to the Town Centre would be funded by TfL, Wandsworth Council and through the Mayor’s Growth Fund. The council’s contribution is being raised through a levy on development sites including the Ram Brewery Quarter, The Filaments and Southside Shopping Centre.

The proposed changes form part of the wider work being carried out across London as part of TfL’s Road Modernisation Plan, with a budget of over £4 billion from now until 2020/21.

Read the full consultation report online.

Garrett Emmerson, Chief Operating Officer of Surface Transport at TfL, said: “As part of our continuing work to improve London’s roads for everyone, we have been working with Wandsworth Council to develop this long-standing ambition to return the Wandsworth Gyratory to two way traffic.”