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Fitness chain The Gym Group has enjoyed a huge boom in profits over the last year. As membership increased by 35.5% to 607,000, company income rose by a massive 24.3% in 2017 to £91.4 million, undoubtedly bolstered by openings in prime Central London locations such as Walthamstow and Bloomsbury.
Off the back of this huge success, the firm is looking to expand its reach, and intends to do so by moving into the vast amount of empty space left by the collapse of some long-standing high street retailers, most notably Toys R Us and electrical supplier Maplin.
As John Treharne, boss of the budget fitness giant explains; “As more people buy online or move away from the High Street, that creates an opportunity for us.”
Indeed, the firm wants to add another 20 locations to its 128 existing sites within the next year.
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.