Discount grocer Lidl is opening 50 new stores in Britain this year, and is seeking more sites in its bid to reach 1,000 stores by the end of 2023.
The retailer has opened 20 stores so far this year, as part of its £1.3bn investment strategy for 2021 and 2022. This has brought its tally to 860.
As part of efforts to double its portfolio, the retailer has set out fresh criteria for new stores. The grocer is targeting freehold, leasehold and long leasehold opportunities in town centres, edge of centres, retail parks and metropolitan areas.
It is seeking sites measuring up to 26,500 sq ft both in London and outside of the capital. The requirement also includes standalone stores measuring up to four acres for mixed-use developments, either in conjunction with the supermarket or acting as a developer.
A 1.5% finders’ fee would be paid for new freehold introductions for a previously unknown site, as well as 10% of first-year rent for leaseholds.
Lidl intends for all of its new stores to install solar panels on the exterior to provide renewable energy for the site, as well as electric vehicle charging points.
Christian Härtnagel, chief executive at Lidl GB, said: “We are calling on developers and landlords up and down the country to help find potential sites for us to build Lidl stores, which demonstrates the continued ambition we have to further expand our store portfolio across the nation.
“Despite the challenges of the past year, we still managed to meet our ambitious target of opening, on average, one new store per week across Great Britain.”
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