Sale due to be completed within weeks.
The company was linked to the Waitrose branches at Torquay and Teignmouth which closed in June with the loss of more than 200 jobs.
Lidl has now confirmed the sale of the Teignmouth store is due to be completed in the next few weeks.
The company has submitted a planning application to convert the former Waitrose in St Marychurch Road, Torquay.
It would be the chain’s second branch in Torquay as it already has an outlet in Newton Road, near Torbay Hospital.
Lidl plans to adapt the existing building with its own look and will strip out and replace the internal fittings ahead of reopening.
The application includes removing a canopy from the front and side and better pedestrian access from the car park.
In a statement, the retailer confirmed it would keep its other Torquay branch open.
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