A new department store is set to open in Wandsworth town centre as part of a £1bn regeneration project.

The new Debenhams store will trade over three floors in the Southside Shopping Centre, Garratt Lane, Wandsworth, and is expected to open by 2015.

It comes as part of the £40m phase of redevelopment of the shopping centre, which will create new jobs in the area.

Redevelopment work to demolish the existing Arndale Walk section of the centre is starting next year, with 100,000 sq ft of additional retail space being created.

Council leader, councillor Ravi Govindia, said: "Investment on a scale this big brings new retail, leisure, residential, employment and educational opportunities to the town.

"As well as making the area an even better place to live, this transformation will also establish Wandsworth as an attractive base for shops and businesses and an increasingly appealing destination for visitors

Neil Churchill, general manager of Southside, said: "Southside’s reputation as a leading retail and leisure destination for south west London is developing fast and we see Debenhams’ commitment as a key step in developing it further.

"A department store for Wandsworth will provide another exciting draw, alongside the Cineworld cinema, our great range of retail names and the growing mix of restaurants and cafés."