The former AIB bank branch in Donnybrook, Dublin, is to be converted into a supermarket by Superquinn directors David Courtney and Padraig Breen after Dublin City Council gave the plan the thumbs up.
Encap Properties is to develop the shop, a gym, restaurant and offices on the site.
Courtney, who is currently facing legal action from Barclays Bank in relation to loans for a proposed development in Finglas, north Dublin, was one of the original investors in Select Retail Holdings, which bought Superquinn from the Quinn family.
Superquinn has said that it is not involved in the Donnybrook development. The building was sold by AIB in 2006 as part of its sale and leaseback programme.