The UK medicinal cannabis investment vehicle said the store will include a café for customers to consume CBD infused tea, coffee and water.
READ: Sativa Investments teams up with King's College London to research cannabinoids for medicinal use
Customers will be able to buy CBD sports energy shots and take home CBD coffee beans and tea bags.
The store will stock cannabis products from its George Botanicals business and other brands from around the world.
The group said it has leased a 60.67 square metre retail unit with frontage on the Broad Street and Milson Place City-centre shopping destinations.
The store is expected to open in early summer.
It is the first of three pilot stores that Sativa intends to open before rolling out a national franchise network.
"Sativa was first to market as a UK-quoted medical cannabis investment vehicle and continues to lead the way with its seed to consumer strategy,” said chief executive Geremy Thomas.
“Goodbody & Blunt's high-street CBD outlets will break with tradition, delivering high-end wellness centres with fully trained staff to advise on the quality and provenance of products.”
Sativa said every item stocked in the Goodbody & Blunt stores will have passed rigorous industry-leading tests, conducted by its own PhytoVista Laboratories.
CBD is a compound found in the cannabis plant that is non-psychoactive and can be well tolerated, as opposed to tetrahydrocannabinol (THC) – the psychoactive cannabinoid that gets a user “high”.
For this reason, the substance can be sold in the UK without a licence so long as it is not marketed as a medicinal product. CBD is widely available at retailers as an oil, spray or food supplement.