Menswear stores at the higher end of the market in central Dublin are facing new competition from the well-known London firm TM Lewin, which opens a 140sq m (1,513sq ft) outlet in South Anne Street next Wednesday.

The company, whose first outlet opened in 1898 at Jermyn Street in London, is seeking a pre-Christmas boost to its business by offering 50 per cent discounts on all its stock for an introductory period.

The shop will be located in a distinctive building that housed the former post office at 32-33 South Anne Street.

An annual rent fee of over €325,000 was being quoted when the 25-year lease came to the market last May.

The big advantage of the site, which had not changed hands for 50 years, is that is just next to Grafton Street and visible from it without being subject to the exorbitant rents charged on that street.

The choice of this location for the first TM Lewin shop outside Britain will bring competition to a number of established menswear stores with ready-to-wear and bespoke outlets on South Anne Street and in its immediate vicinity.

In addition to menswear, TM Lewin will stock ladies' shirts in the €60-€75 price range.

The company indicated yesterday that the full price of its men's suits will be €750 while men's coats will be priced at €550.

Its ranges of men's shirts will be priced at €95-€120 and €125. It will also stock footwear.

South Anne Street is receiving something of a facelift at a time when Dublin City Council is concerned about the quality of retailer on Grafton Street.

A prominent strip of five units at the Dawson Street end of the street is the subject of a €22 million retail and office scheme by Briarglen, a company controlled by developer Paddy McKillen and solicitor Ivor Fitzpatrick.

This will include an upmarket bistro run by restaurateur Patrick Guilbaud.

In addition, retailer Pia Bang recently opened a four-storey interiors shop directly opposite the TM Lewin outlet in a building formerly occupied by Boutique Homme.