Budget supermarket chain Lidl is offering a ‘finder’s fee’ to members of the public who can identify a suitable site for a series of new stores planned across the UK.
The attractive incentive was announced in a bid to help the German retailer reach 1,100 stores by 2025.
Lidl says it will shell out a finder’s fee of either 1.5% of the price of a freehold purchase or 10% of the first year’s rent for leasehold sites.
It’s worth keeping your eyes peeled for a suitable site, as supermarket publication The Grocer worked out that the purchase of a £1.5m site would deliver a finder’s fee of £22,500.
Demand for new supermarket locations is particularly high in London, where Lidl already has 100 stores. The retailer said it hopes to double its presence in the city and surrounding areas and introduce another 100 stores.
As well as areas for standalone stores, the supermarket is also looking for spaces in shopping centres, on high streets, and in retail parks. Each site should be close to good public transport links, in town centres, and have car parking facilities.
The retailer has published a list of desired locations across the UK, including major cities such as Manchester, Birmingham, Edinburgh, Swansea, and Liverpool.
Lidl currently has more than 900 stores in the UK – after an extensive expansion plan saw the opening of 23 new stores since the beginning of the year.
Richard Taylor, chief development officer at Lidl, said the supermarket is opening an average of one new store every week.
“But there are still communities up and down the country that are telling us how much they want – and need – a Lidl store,” he said.
“We work with some of the best people in the industry to identify new sites, but we also know how engaged our future and existing customers are and we want to build on this.
“Our finder’s fees are, therefore, available to absolutely anyone that can identify a viable option for a new store that we’re not already aware of, and we welcome any suitable suggestions that will help us to meet our ambitious target of 1,100 stores by the end of 2025.”
Think you know a suitable site? Find out more details about Lidl’s initiative by visiting their website.