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Australian gym provider F45 Training has set its sights on acquiring an impressive 50 locations across the UK within the next year. The company – which was set up with the unique selling point of offering high-intensity training sessions – has its maiden studio in London Bridge, and has recruited an agent to search for single-level units, of between 1,650 sq ft and 3,300 sq ft, in high-footfall locations within the Greater London area.
Fitness is fast climbing the agenda in the UK at the moment, with 13.7% of the population now in possession of a gym membership. As a result, gym operators are dominating the leisure market, taking up space nationwide. The emergence of new overseas players is serving to further strengthen this. Budget gyms have also helped to bolster the market, evolving over the last 10 years to pose an exciting challenge to the ‘norm’ of expensive gyms in the centre of London.
Eugene O’Sullivan, Managing Director at tenant acquisition specialists Morgan Pryce, believes that there is definite scope for more acquisitions for gym operators: “The news of F45 rolling out a large number of studios across Greater London is testament to the current strength of the leisure market, specifically through gym operators. Morgan Pryce are currently searching for premises on behalf of three niche gym operators, with sizes ranging from 2,000 sq ft to 20,000 sq ft. There is definitely an appetite in the market for these types of premises.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.