It will take over premises made vacant by the merging of the PC World store and the Currys store, due to take place next month.
At the moment, PC World is in one of the retail park buildings with Currys, which has already closed. PC World will move into Currys, creating Currys PC World which will open to the public on Friday, August 15.
Smyths Toys would then be free to open in the vacant PC World store, the building nearest to the junction of Tewkesbury Road and Princess Elizabeth Way.
Smyths Toys is also due to open a shop in Grimsby in September, located on Victoria Retail Park and in the vacant premises previously occupied by JJB Sports.