David Lloyd Leisure is stepping up its search for suitable locations in the UK to expand its portfolio of health clubs and high street studios.
Europe’s premier health, sport and leisure group is actively seeking both large sites for its private members’ clubs as well as smaller retail locations for the innovative high street health and fitness concept, David Lloyd Studio.
David Lloyd Leisure, recently acquired with investment funds managed by private equity firm, TDR Capital LLP, announced in September 2013 that it had earmarked opportunities to invest more than £50m across the existing estate to further enhance facilities provided to members. It has identified a pipeline of over 20 potential additional sites in the UK as well as several mergers and acquisitions opportunities.
The group, which has 81 clubs in the UK and 10 across Europe, has ambitious proposals to expand its high street health and fitness model, David Lloyd Studio. Three initial sites have opened since September 2012 and there are plans to roll out up to 20 new studios each year catering for local urban communities where a full-size club is not feasible.
The non-membership, studio concept is the first initiative of its kind from a major health and fitness operator in the UK.
The group recently opened its first group training studio in Islington, north London, and is now seeking further city and town centre locations for expansion of its group training model, focusing particularly on Greater London and other major UK cities.
Requirements include floor space of at least 2,300 sq feet, close to public transport and covered by a 10-year lease with fixed rental uplifts.
In terms of its large health clubs, site requirements include 4-4.5 acres of land on a freehold or long leasehold basis, with both existing facilities and new build opportunities considered.
It is working with real estate firms CBRE and Ian Scott International to identify suitable locations.
David Lloyd Leisure group acquisition manager Brendan Mitchell commented: “With the increasing trend towards a more health-conscious lifestyle, the health and fitness sector is well positioned for sustainable growth. As well as our plans to invest in existing clubs and further develop our portfolio of large health, sport and leisure clubs offering the whole family a diverse array of facilities and services, we have ambitious proposals to roll out our David Lloyd Studio model.
“We are very interested to hear from landlords with suitable retail floor space in urban centre locations. The face of the UK high street is changing rapidly with traditional retail units being replaced with new concepts. We hope that our planned investment for David Lloyd Studio in retail locations will help boost local economies and enhance the vitality and viability of city and town centres."
The David Lloyd Studio concept brings the group’s internationally-renowned expertise in health and fitness to the high street by providing stand-alone space for group training on a non-membership basis, with flexible payment options, aimed at those who are time-pressed and want flexible access to exercise.
The studios also offer a retail area with sports products for sale, such as nutritional supplements and exercise equipment.
David Lloyd Leisure has launched Orangetheory Group Training at its latest David Lloyd Studio in Islington, north London, in another UK health and industry first. David Lloyd Leisure is the exclusive UK and Ireland licence holder for Orangtheory, a revolutionary fitness programme using heart rate monitored training that has taken the US by storm.