Addington Capital has agreed a 15-year lease with the retailer to relocate to a 20,000 sq ft unit formerly occupied by TJ Hughes in Charter Walk Shopping Centre, Burnley.
Next had been due to leave The Mall within Charter Walk to become one of the anchors of the Henry Boot scheme in the town centre but Henry Boot aborted its plans earlier this year. Next currently occupies 5,000 sq ft in The Mall.
Works to transform the former TJ Hughes unit are expected to begin in August with the new Next store targeted to open by the beginning of December 2012.
Stephen Proudley, of Tushingham Moore, joint letting agent, commented: "This is a significant letting for the centre and demonstrates Next's commitment and confidence in Burnley as a shopping destination. We are delighted that we have been able to secure such a high profile tenant in this store and anticipate being able to announce further fashion pre-lets for the redevelopment of Market Square on the back of this transaction"
Steve Rumbelow, chief executive of Burnley Council, concluded: "We are confident that through continued work with our partners at Addington, and the investment of stores such as Next, that Burnley town centre will continue to attract new business and continually improve the towns' retail offer for both residents and visitors from further afield."
Keenan & Co is joint agent with Tushingham Moore for Charter Walk Shopping Centre.