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H&M has selected its first Sydney location - and it's not where you think.

According to media reports, H&M will open at the at the redeveloped Macquarie Centre in North Ryde.

The store is slated to open on October 16, as part of the $400 million redevelopment.

Victoria's Secret, Uniqlo and Zara are also reportedly in negotiations to open sites in the centre.

In an interview with Ragtrader earlier this year, H&M country manager Hans Andersson said location is a key focus for the brand here.

"We have actually been scouting for locations in this market for over three and a half years.

"The first stores you open in a new market are the most important though - they have to be the right ones.

"That's so important. So we took the time to find that."

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