Next is set to remain open in Douglas after new terms were agreed with its landlord, months after the retailer announced plans to leave the island.

The clothing chain said in April that its Strand Street store would close during the summer after terms for a renewal of its lease could not be agreed.

At the time, Next said it wanted to remain on the island but claimed terms put forward by the landlord were not ‘commercially acceptable’.

However, Kelproperties (IOM) Ltd has now confirmed that an agreement has been reached with Next Plc, subject to contract, which will see the Douglas store remain open.

In a statement, the landlord said: ‘We are pleased to confirm that terms have been agreed with NEXT Plc, subject to contract, which will see the Douglas store remain open.

‘This agreement is the result of considerable hard work and constructive engagement on all sides, with everyone focused on finding the best possible outcome.

‘We look forward to completing the formalities and seeing Next continue to trade from Strand Street.’

The announcement marks a significant turnaround from the position earlier this year.

In April, a spokesperson for Next said: ‘The store’s lease is coming to an end and although Next wanted to renew it and remain trading on the island, as it has for many years, the landlord put forward terms that weren’t commercially acceptable, so sadly the store will have to close in the summer.

‘Terms for a renewal of the lease could not be agreed with the landlord.’

At the time, there was no indication that Next was considering an alternative location on the island.