Strangely they have the 16GB version on offer for an extra £20 quid (349) and the 32Gb version for 309! So it's cheaper than the 16GB version.
Reserve & collect only but most stores in the North East have stock from a quick check so hopefully not a wild goose chase. ;)
Possibly another £25.00 Off Via The O2 Priority Moments App - thanks to saq17 for the extra info