The Gym Group appoints Savills to advise on expansion plans 26 April 2024
The Gym Group appoints Savills to advise on expansion plans
26 April 2024: Leading low cost gym operator, The Gym Group, announces that it has appointed International real estate advisor Savills to advise on its site selection, as it plans for circa 50 new openings across the UK over the next three years. Analysis from PwC shows that the opportunity in the UK extends to potential for between 600-800 additional sites in the low-cost segment1. At its 2023 annual results in March, the Group shared its Next Chapter plan for growth, which includes disciplined rollout of high quality sites that deliver attractive returns and create shareholder value.
With gyms playing a valuable role in helping people to maintain healthy habits across communities, The Gym Group was the first gym operator to measure the Social Value it generates, created through regular exercise2. The Gym Group is also the first fitness operator in the world to have its net-zero targets validated by the Science Based Targets initiative (SBTi).
Will Orr, Chief Executive Officer, The Gym Group, said: “We look forward to working with Savills to support our Next Chapter growth plan. We have identified the characteristics for high-performing gyms, and as we accelerate the rollout of quality sites, we are prioritising the best gym locations and delivering on our mission to give our members even greater access to our high quality, low cost fitness.”
Andy Hall, Joint Head of Out of Town Retail at Savills, comments: “We are delighted to be working with The Gym Group on their growth strategy. As the only national property consultancy with retail and leisure teams based across the UK, we are excellently positioned to deliver a plethora of exciting opportunities for The Gym Group as it continues to expand its offer and reach more communities around the UK.”
1 PwC Strategy& Headroom Analysis March 2024.
2 Since 2019 The Gym Group has reported on the Social Value the business generates using an internationally recognised model created by Sheffield Hallam University and 4Global, focused on member participation and health outcomes of regular exercise.
FOR FURTHER INFORMATION, PLEASE CONTACT:
The Gym Group press office - press@thegymgroup.com
Andy Hall, Savills retail - Tel: +44 (0) 7876 442525
Phoebe Bohana, Savills press office - Tel: +44 (0) 7972 000091