Developer Leo Blake was "very pleased" with the progress of the shopping centre. "Considering the financial crisis that's before us, I'm pleased at the number of people who want to take up stores in there."

Formerly known as Bayswater Plaza, the centre was scheduled to open last June. However, when Coles Supermarkets agreed to be a tenant, the opening was put back to December last year.

Prolonged negotiations with the supermarket meant another delay, with a February 2009 opening date hoped for. Located on the corner of High Street and Mountain Highway, the shopping centre will now open this week.

Mr Blake said the centre was almost at full capacity. Among the outlets are a Coles supermarket, a Dimmeys store and a Priceline store. He said negotiations for a possible medical centre were also under way.

He said the centre had been a "long time coming". "I think it's going to make an enormous difference to the people of Bayswater. They've waited a long time for this, and they deserve better than what they've had in the past."

Mr Blake said that while "you could always do with more parking", he did not see it as a major issue.

Knox councillor Adam Gill has previously said the new shopping centre would provide Bayswater residents with a "real shopping choice that will ensure competitive prices for consumers".

The Mountain High shopping centre will provide competition for an Aldi supermarket which is on the other side of High Street, a Woolworths store on Mountain Highway, as well as a variety of smaller, local shops.