The conversion of the building which housed the former Axis nightclub into a €5 million two-storey commercial development will be completed next month, Eden Leisure Group chairman Ian De Cesare told The Sunday Times.

First opened just under 25 years ago, the Paceville club which enjoyed a highly successful operation for many years, was closed last January. In its new guise, it will be renamed The Axis and will comprise 11 units with terraces.

Offering a total of 2,000 square metres of commercial space for rent designed by Carlo Schembri, the units vary in size between 80 and 200 square metres.

Mr De Cesare said The Axis will be fully completed by early next year and tenants should be operational between next March and May.

While retaining a considerable part of the outer shell of the previous building – only the facade has been demolished – The Axis will occupy less interior space with internal levels changed, while the premises will recede by about six metres on-street, he explained. All units will be served by a back-end service corridor.

Eden Leisure Group acquired a 50 per cent stake in Axis 11 years ago from owners Grech and Co. Ltd. The new development is a continuation of the two organisations’ partnership.

“The days of the large club have gone,” Mr De Cesare said. “Paceville is changing. Some major developments are coming on stream in the area, such as ­Pendergardens and the Testaferrata office block, so activity in the area is more diversified. There are a number of restaurants open during the day doing good business.

“The Axis will offer good quality, themed commercial spaces with an emphasis on the outdoor within the development. We would like to see the majority of the spaces taken up by food and beverage operations and some interesting retail concepts. We have seen a lot of interest in the property already. Real estate in Paceville is limited.”

Mr De Cesare insisted The Axis was not intended as a mall but as an offering that would cater to a new clientele which was not after the loud music associated with Paceville. The tenants would be carefully selected to include a range of dining options that would be open till late. The Axis will also be promoting a reasonable noise policy where the atmosphere would enjoy background music.

The facade will be brightly illuminated with LED lighting in different colours. Access will be through a wide frontage staircase or through the top tier which meets another street.

While The Axis will not incorporate parking facilities, spaces within the area were set to increase with new development and Eden Leisure Group has its own ample underground parking offering, Mr De Cesare said.