Aldi has announced plans to open eight new stores in London this year as part of a £40m investment in expanding its retail footprint.

The discount retailer is set to open new stores in locations around the Greater London area which include Marble Arch and Hoxton.

The move targets areas within the capital and across Greater London where communities have limited access to discounters and shop at convenience stores or traditional full-price supermarkets.

Additionally, the discounter is renovating existing Aldi stores in Enfield and Kilburn this year.

Jonathan Neale, managing director of National Real Estate at Aldi UK, said: “We know household budgets are still under pressure, and too many Londoners don’t have an Aldi within easy reach.

“These new stores will bring our unbeatable value to more families while creating around 200 new jobs across the capital.”

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The expansion project is set to create an estimated 200 jobs around the capital city and is part of a wider £370m business investment plan across Britain.

This move comes after Aldi announced a £300m investment in renovating and extending 11 of its stores across the UK in February.

The major investment will fund a wide range of improvements to its store estate, including building extensions and enhancing features.

The full list of stores set to open across Greater London is:

• Hanworth, Twickenham Road
• Willesden, High Road
• Watford
• Marble Arch
• Hoxton
• Orpington West
• Epsom
• Stepney Green