Dublin's Grafton Street is to get another boost with the decision by the British cosmetics retailer Space NK to open its first Irish stand alone outlet opposite BT2. It will also be the luxury cosmetics group's first shop outside the United Kingdom or the United States.

A number of leading retailers including Molton Brown, Thomas Sabo and Claire's Accessories were apparently in the running for the well located shop which has a retail area of around 100sq m (1,076sq ft). Space NK is understood to have agreed a rent of around €300,000 for the shop on a long term lease.

Eoin Feeney of BNP Paribas Real Estate, who is marketing the store, said it was "too early" to confirm a letting of the premises.

The Space NK apothecary has 62 retail outlets in the UK and a further 23 in the US. The company was set up in 1993 by Belfast woman Nicky Kinnaird who still retains a 10 per cent interest in the business. She sold a majority stake to the Fisher family, founders of the GAP fashion business in the US.