The Gym Group invests £1.3m in new Stretford site, creating 15 jobs
The Gym Group, nationwide operator of 186 gyms, has signed a lease for a new gym in Stretford, which will open in July.
The site, leased from Derwent Holdings, is located in White city Retail Park alongside a host of popular food and retail stores including M&S Food, Aldi, Home Bargains and Curry’s, on the A56 Chester Road, close to Salford Quays and Old Trafford football ground.
The Gym Group will invest around £1.3m in the 15,000 sq ft gym, which will give members a large well-ventilated facility fitted with a wide range of top quality exercise equipment.
The new gym will create 15 jobs and generate social value for the local community, which is a core part of The Gym Group’s strategy.
The group recently commissioned a piece of research by 4Global that estimated the social value per site generated across its estate pre-pandemic equated to £3m per site.
With existing units in the Manchester city centre, as well as Fallowfield, Altrincham, Stockport and Handforth, the new Stretford site further expands The Gym Group’s reach across Manchester and provides access to affordable fitness for the local community.
Oliver Tester, head of property acquisition, said: “We are delighted to be increasing our presence in Manchester.
“The pandemic has shone a light on the importance of fitness for mental and physical health, and we are pleased to be giving further access to our gyms for the community within Stretford.”
He added: “There are substantial opportunities ahead for further growth. Our strong covenant and impressive track record make us an attractive choice of tenant to landlords, and we are well placed to benefit from the significant changes in the retail property market.”
James Maule-Finch, senior asset manager for The Derwent Group, which owns White City Retail Park, said: “Securing The Gym Group will see unit five given purpose for the first time and bring a strong lifestyle offering to the park’s largely home and food orientated tenant mix.”