Lidl is reported exploring opening 12 new stores across the country as part of its latest expansion efforts.
The discount supermarket chain is looking for £91million in funding to assist in paying for this store rollout.
According to reports, Lidl is looking for investors to build the 12 supermarkets which can be leased to the retailer to operate on their behalf.
As of today, the popular supermarket has 960 stores in the UK but only around 20 per cent of them are leasehold.
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Lidl is reportedly planning to expand to 12 new areas
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Based on a funding pitch seen by The Sun, Lidl is asking for the 12 new stores to come attached with a 25-year lease.
Leases for the locations will then be subject to five yearly rent reviews which will be based on open market values.
As part of its pitch to investors, the company outlined which areas of the country they hope to move into.
A spokesperson for Lidl told The Sun: “We have long taken a flexible approach to delivering new sites with the core aim of giving all households access to a Lidl store.”
Here is a list of the 12 locations Lidl reportedly wants to open new supermarkets in the near future, as per the funding pitch:
- Alexandria
- Birmingham
- Bovey Tracey
- Bristol
- Crediton
- Downham Market
- Hull
- Manchester
- Northampton
- Reading
- Redcar
- Saffron Walden.
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The discount supermarket chain is looking for investors
PA IMAGESThis list from the discount retailer comes less than a year after it published a full breakdown of its priority locations for store openings.
Based on last year’s list, Lidl will potentially open in high streets, shopping centres and standalone or mixed areas.
Retail parks are also being examined for new store openings, as well as metropolitan areas in London and the M25. Last year’s potential store list included 1,167 locations across Great Britain.
GB News has contacted Lidl for comment.