The much delayed opening of the Massimo Dutti store on Dublin's Grafton Street is now expected to go ahead at the end of January.

Spain’s Indetex company – the world’s largest clothing group –is believed to have spent in excess of €3 million fitting out the shop which has around 1,254 sq m (13,500 sq ft) of retail space at ground, basement and first floor levels.

It is one of the five largest stores on the street and was rented over the years by HMV.

Owners Irish Property Unit Trust and Aviva dropped the rent from €1.7 million to €865,000 to attract Massimo Dutti which is expected to give a major boost to the high street.

Indetex has more than 6,000 outlets in 86 countries and had net profits of €2.36 billion last year. Savills handled the letting.