DEVELOPMENT PIPELINE


PRIVATE SECTOR JANUARY 2011


NEW SITES FOR 3D 3d Leisure will be taking on three hotel-based sites in 2011, as part of a new management agreement. The company has been awarded a three-year contract


for three Hallmark Hotels – in Bournemouth, Gloucester and Manchester – starting on 1 January. Each hotel has a gym with external membership available. The group has also recently taken on two sites in


Yorkshire – the Crown Hotel in Boroughbridge, North Yorkshire, and the Kilima in York – under an agreement that started in October last year, as well as Refl exions gym in the QN hotel, Aylesbury. 3d Leisure now manages 54 sites across the UK.


JANUARY 2011 AND BEYOND


STRING OF NEW CLUBS FOR THE GYM GROUP Budget gym chain The Gym Group opened its 15th UK club in Plymouth in January 2011, with new openings in Southampton, Leeds and Bristol scheduled for March. This will be followed by openings in Swansea, Cardiff,


Reading, Edinburgh, Glasgow and Sheffi eld, as well as two gyms in south-west London and one gym in central London. The Gym Group – which is headed by CEO John Treharne,


former boss of Dragons Health Clubs – is fi nanced by venture capital company Bridges Ventures, as part of the latter’s social


The Third Space opens its second club this spring


mission to support facilities in under-privileged areas of the UK and to enable large portions of the local community to enjoy the benefi ts of a low-cost gym membership. Treharne says: “We plan to open 50 gyms by the end of


2012 in major cities throughout the UK. We completed a fi nancing exercise with Bridges Ventures and HSBC to fund this aggressive rollout programme and to maintain our position as market leaders in the low-cost sector.”


SPRING 2011


THE THIRD SPACE TO LAUNCH SECOND SITE The Third Space will open its second club in London, in the Marylebone area of the city, in spring 2011. The new £2m, 1,400sq m (15,000sq ft) club will be located


in the Marylebone Hotel and will offer a full-service spa, a large swimming pool and a fi tness suite that will include a ‘Retro Gym’. It will be open to members and hotel guests. Eric Dunmore, chief executive of The Third Space, says


the company will aim to open further clubs across the capital in the future. “We’re committed to developing The Third Space brand. Once the new site has opened, we will work towards identifying new locations across London,” he adds. The Third Space is owned by a management team that


The Gym Group: 50 sites planned by the end of 2012


completed a management buy-out (MBO) in 2007. The MBO was backed by private equity company Graphite Capital, which has investments in other leisure businesses including private members’ club The Groucho Club, night club and pub company Inn-Brighton, and Park Holidays UK. The Third Space’s fi rst club is in Soho, central London.


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