Lidl is looking for investors to contribute £91.1 million toward the construction of twelve new supermarkets nationwide, aiming to expand its store network.

Lidl has initiated the search for investors to construct the new stores, which it will then rent from them, stating in a funding pitch it is offering “a unique opportunity to acquire the freehold and fund the construction of 12 supermarkets let to Lidl GB”.

Locations currently mentioned in the documents include Alexandria in West Dunbartonshire, Birmingham, Bovey Tracey and Crediton in Devon, Bristol, Downham Market in Norfolk, Hull, Manchester, Northampton, Reading, Redcar and Saffron Walden.

The new investments would be the first time the discounter has used this process, as approximately only 20% of its 960 UK stores are currently leasehold.

A spokesperson for Lidl said: “We have long taken a flexible approach to delivering new sites with the core aim of giving all households access to a Lidl store.”

This decision coincides with Lidl's strategy to scale back its expansion plans from 50 new stores annually to just 25, allowing the retailer to concentrate more effectively on expanding its warehouse capacity.

Aldi, a competitor to Lidl, is pursuing a more assertive expansion strategy. Earlier this month, the company announced plans to invest over £550 million in expanding and enhancing its network of stores and distribution centers this year.

Last year, the supermarket chain established a new National Real Estate Team to aid in achieving its goal of opening 500 new stores.