LIDL has unveiled bold new expansion plans, announcing a massive £500 million investment to fast-track its growth across the UK.

The German-owned supermarket giant is aiming to open over 40 new stores in the current financial year alone, bringing its award-winning value to even more communities.

Cornwall is set to see a major share of this surge, with eight new stores proposed for key locations including Camborne, Falmouth, Liskeard, Redruth, St Austell (West), St Ives, Torpoint and Truro.

The retailer’s latest site requirements brochure highlighted a list of hundreds of prospective spots for their outlets, which include locations in high streets and retail parks to mixed-use sites in town centres.

Bosses at Lidl, which has more than 980 stores and 14 distribution centres in England, Scotland and Wales, said recent UK Government planning reforms are helping to “remove barriers to development” and support its growth ambitions.

Richard Taylor, chief real estate officer at Lidl GB, said: “This level of investment is a clear sign of our ambition.“As we enter our fourth decade in Great Britain and hurtle towards 1,000 stores, there are still so many parts of the country crying out for convenient access to a Lidl store.

“That’s why we welcome the measures proposed in the Government’s Planning and Infrastructure Bill – they recognise the urgent need to remove barriers to development and support the kind of growth we at Lidl are working towards.

“New stores mean new jobs, new opportunities for British suppliers, and continued investment into local economies.”

Lidl is currently the UK’s fastest growing supermarket chain, according to industry data.Figures from Kantar earlier this month, suggested sales rose by 9.1% over the 12 weeks to March 24.

This has seen it take a 7.8% share in the UK grocery market and move closer to overtaking Morrisons, which is currently the UK’s fifth largest supermarket chain.