Lidl is seeking investors to add a dozen new stores to its network in the UK.
According to The Grocer, the discounter is on the hunt for £91.1m from investors to build the new stores which it will then rent back from them.
The retailer said in a funding pitch is was offering “a unique opportunity to acquire the freehold and fund the construction of 12 supermarkets let to Lidl GB.”
The potential locations are spread across the UK, with Alexandria, West Dunbartonshire; Birmingham; Bovey Tracey and Crediton in Devon; Bristol; Downham Market, Norfolk; Hull; Manchester; Northampton; Reading; Redcar and Saffron Walden, currently included in its wish list.
This is the first time Lidl has used this process to expand its store network. It’s estimated only 20% of its 960 stores are leasehold.
A Lidl spokesperson told The Grocer: “We have long taken a flexible approach to delivering new sites with the core aim of giving all households access to a Lidl store.”
The news comes as the discounter tempers its expansion plan from 50 to 25 new stores per year to better focus on growing its warehouse capacity
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