The Debenhams unit in Llandudno will be taken on by Marks and Spencer.
M&S revealed three years ago they wanted to relocate from Mostyn Street to Parc Llandudno.
But since then there has been no update on which unit they would move into.
Now they have confirmed that they plan to take on the large Debenhams unit.
It follows news that the department giant's stores across the UK are to close.
This will mean one of the prominent vacant sites on Parc Llandudno will be filled when M&S open in 2022 - but it will leave a large gap on Mostyn Street where they have traded for more than 80 years.
That store will keep trading until the new site opens and all staff will be relocated.
Sara Holt, M&S Head of Region for North Wales, said: “We are pleased to confirm that we are moving our Llandudno store on Mostyn Street to Parc Llandudno, to the site currently occupied by Debenhams.
“The new store will offer customers an extensive Food and Clothing offer and a large M&S Café.
"The new and improved store is scheduled to open in 2022, and our existing site on Mostyn Street will remain open as usual until the development is complete.”
An application has been submitted to Conwy council for new trolley bays at Parc Llandudno linked to the new store.
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