Retail giant Myer is extending its network to Darwin.
Myer sealed the deal nearly nine months after announcing it was in discussions with the GPT Group on a site in the Casuarina Shopping Centre, in Darwin's northern suburbs.
The new store, occupying 12,000 square metres over two levels, will be the first full-line department store in Darwin, Myer chief executive Bernie Brookes said.
"As we optimise our store network across the country, Darwin is the ideal location for a new store, and will expand our customer base and footprint into the Northern Territory for the first time," he said.
"Darwin is a region of significant economic growth, and the community support for the addition of a Myer store has been tremendous."
GPT spokeswoman Samantha Taranto said the centre would undergo significant redevelopment before the Myer opened in 2016.
"Having Myer on board means we can really start to ramp up the design of the development," she said.
About a year ago GPT announced it would spend $250 million to redevelop the Casuarina Shopping Centre but Ms Taranto said that figure would be updated when development approvals were sought.
The Northern Territory government, which has been lobbying Myer to open the store, hailed the decision as a vote of confidence in the territory's growth opportunities.
The retailer will also open new stores in Fountain Gate in Victoria and Townsville in Queensland later this year.