Restaurants: The former owner of Browne's Brasserie has just opened a new restaurant, Peploes, on St Stephen's Green which serves food all day. Kate McMorrow reports

Fine wines and champagne by the glass, all-day food and a very smart decor - restaurateur Barry Canny may have come up with a winning formula for his new wine bar and restaurant, Peploes, which opened for business yesterday on St Stephen's Green.

"Why can't we eat in a nice place that is not expensive?" asks owner Barry Canny, adding that Dublin city centre is ripe for a middle-market restaurant that doesn't involve fast food.

Canny has brought the head waiter, Frederic Pelanne, and chef, Sebastian Scheer, with him from Browne's, auguring well for the standard of cuisine and service in the new place.

While he retains an interest in Browne's Brasserie, which was taken over in August by Spanish-based hotel group Stein, Canny plans to expand his new restaurant venture to London and Leeds, once it is established.

The former brasserie owner spent over two years demolishing and restoring the former bank vaults which once occupied number 16 at a cost of over €1 million.

This involved painstakingly removing 350 tons of solid concrete and an 18-ton steel vault door. The fact that it is a listed building added to the difficulties and specialist engineers were brought in to oversee the project.

The new restaurant was named Peploes after the renowned Scottish colourist. Paintings by young Irish artists replicating the artist's work line the walls of the new restaurant. In a touch of style, these are framed with original 19th century frames sourced in London.

A striking mural running the length of the diningroom depicts famous figures dining at Peploes, including Bill Clinton, Nelson Mandela and Pavarotti. Owner Barry Canny is there too, with his wife, Dee, and daughters, Emily and Gina.

The bust of Gladstone on the bar counter will amuse Canny's many political customers, who were keen supporters of Browne's Brasserie.

New patrons will appreciate the club-like green leather banquettes and cinnamon suede chairs, reclaimed oak-panelled floor and walls and the sheer opulence of Peploes interior.

They won't mind the prices either. Lunch is €15 to €20, dinner €20 to €35 and there is a choice of over 30 wines by the glass, starting at €5.

In the wine bar, a "small plate" menu is available throughout the day, serving "comfort" foods like shepherd's pie and the Spanish dish pan con tomate.

While the diningroom seats 56 and promises to be a popular addition to the city centre restaurant scene, the wine bar is an important part of the venture for Canny. Guests can browse through an oak-lined wine library before selecting a vintage. Most of the 150 wine labels have been sourced personally from small European vineyards, with Rhone wines featuring prominently.

Taking life easy after the multi-million euro deal on Browne's brasserie wasn't an option for workaholic Canny. "It must be insanity," he remarks.