The success of the proposed Champs d'ElysΘes-style rejuvenation of Dublin's O'Connell Street will determine whether the big multiplex cinema operators will risk locating there.

Paul Clinton of Carlton Developments - who has been involved in ongoing discussions with UCI cinemas about reopening the Carlton cinema on O'Connell Street - says that few cinema operators are prepared to take the "leap of faith" of signing a 20-year lease, paying rent and investing £15 to £20 million (€19m-€25m) in fit-out costs unless the location is perceived as safe and accessible."

UCI - a joint venture company between Universal and Paramount - feel it is premature to commit and are operating a wait-and-see policy before committing to the venture to gauge how the rejuvenation will materialise.

There is little doubt the location has huge potential if Dublin Corporation manages to realise its vision of a cosmopolitan principal street full of night-time activity.

Ireland has the highest number of admissions per capita in Europe, as going to the cinema has become an integral part of our culture. There are twice as many people going to cinema as to 10 years ago.

Clinton believes that if central Dublin is perceived to be a safer place to go at night, there is scope for more cinemas in the city centre, even after UGC doubles its capacity to 18 screens next autumn - bringing the city centre total to 29 spread over four cinemas, The Savoy, IFC, The Screen and UGC.

If the Carlton redevelopment goes ahead, he envisages it will add a further 16 screens to the total. He points to the example of Leicester Square and Piccadilly Circus in London.

"There are quite a number of large cinemas and they charge double the price of suburban ones because people want to come in and experience the buzz and atmosphere of the streets.

"Suburban cinemas are often in shopping centres where the shops are locked up when they leave and it's a matter of straight out to the car-park and go home. Some people prefer to go to a busy central area where they have the option of going for a drink beforehand or afterwards."

Karl Milne of UCI believes the city centre does not have "the cinema it deserves, a place to host premieres".

He would like to see a cinema similar to two of theirs which recently opened in Manchester and Greenwich in the UK: they have gallery and balcony seating with adjoining bars for special occasions.

He admits that opportunities for new cinemas are limited in the city centre and confirms the final decision to redevelop the Carlton is "on hold until there is tangible evidence of rejuvenation of O'Connell street."

Eithne Ryan of Carlton Screen Advertising says there has been no indication that cinemas admissions have been affected by the general downturn following September 11th - they were up 6.5 per cent between January and October on last year.

Historically, cinema can benefit from economic downtimes, she says.

"The Great Depression of the 1930s was a golden era of cinema. It is a relatively cheap night out and a good way to escape and unwind."