International fashion retailer, H&M, has announced its plans to open up a flagship store at Commercial Bay on Auckland’s waterfront.

The location is a $681million downtown Auckland development run by Precinct, which includes a new 39 level PWC Tower to be built on the site of the now closed Downtown Shopping Centre.

Commercial Bay is the second location to be announced by H&M, which is set to open its first New Zealand location in Auckland’s Sylvia Park.

"H&M and HSBC are both internationally recognised brands and we're delighted with their early commitment to Commercial Bay," said Scott Pritchard, chief executive, Precinct.