FULL BODY WORKOUT A REVIEW OF THE CENTRAL LONDON GYM MARKET


LUXURY CLUBS


Representing 18 per cent of all clubs in London, by number of outlets, the premium sector accounts for 55 per cent of all gym floorspace, with average club sizes of 34,250 sq ft.


Leading the way is Third Space, which opened its fifth venue at Minster Court in the City in Summer 2018. The space boasts the cleanest air in the square mile with an impressive filtering system. The group, who’s Canary Wharf site is Europe’s largest, plans to open one a year over the next few years starting with a 47,000 sq ft club in Islington Square in Spring 2019. It has also committed to the Wood Wharf development in the Docklands.


The premium sector has continued to evolve and innovate, significantly raising the bar in terms of luxury over the last five years and offering an alternative to the ‘private members club’. For example, American hospitality brand Equinox launched its upscale concept, E By Equinox, at St James in December 2017, which comes with a £350 per month membership tag. E by Equinox combines the latest in fitness technology and premium personal training with high-end aesthetics and lifestyle services, such as its bespoke body composition services, complementary laundry service and food and beverage offering. Advanced medical facilities


25% would like to be


offered spa or beauty treatments


such as Cryotherapy and nutrition programmes are also available. The group is expected to open further outlets of its core Equinox brand in The Stage building, Shoreditch, in 2019 with the 15 St Helens development in the City set to quickly follow suit.


With the group exercise phenomenon gaining momentum, the premium sector has invested heavily to maintain market share. Groups such as Virgin Active Collection and Harbour Club have both converted traditional gym floor space into further studios, as well as installing wearable heart rate based system that uses wireless and cloud technology to accurately and conveniently monitor physical activity.


With such large floorspace requirements, it is unsurprising that activity in the luxury sector is largely linked to new developments where such space can be more easily incorporated. With higher membership levels, defined requirements and target locations, they typically have the highest rents of all the traditional ‘big floor filler’ clubs, with average rents of £23.70 psf. With increased competition for space from experiential leisure concepts such as Flightclub and Puttshack, rental levels are likely to intensify.


21% would like an


onsite doctor or physiotherapist


14


15% would like to


have the option of concierge services


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