Gym chain plans for healthy expansion
A LOW-COST gym company with a base in Wolverhampton is planning to open 24 new health clubs in the next two years.
Pure Gym’s expansion plans come following a successful fundraise led by Magenta Partners, whose principal investor is New Look entrepreneur Tom Singh’s family trusts.
Pure Gym chief executive Peter Roberts said: “We saw a big gap in the market for people that wanted to work out in a no frills environment without sacrificing the quality of the equipment they use.
“To date our gyms have filled their memberships very successfully and we believe the time is right to roll this out across the UK.
“Our biggest challenge is finding sites in good locations that meet our criteria, to date we have successfully leased buildings from major institutional landlords.”
Pure Gym offer members 24/7 access to the gym with no contract, with membership starting at £9.99 per month.
It is planning to open a new gym in Birmingham and up to five more in the Midlands, including in Smethwick and other, as yet undecided, locations.
Partner at Magenta Partners Tom Matthews added: “The strength of this concept is clear from the explosive growth the first wave of gyms has achieved.
“We are backing an experienced and talented management team, with a great product, in the right market.”
Peter Roberts started the Langdale Group in 1980 and went on to set up Luminar Leisure in 1989 before launching the Golden tulip Hotel UK chain in 2002. He then sold the latter in 2007 to the Whitbread chain.
