RCS - Gym Group PLC (The) - Savills appointed to advise on expansion plans

GYMAnnouncement

26/04/2024 07:00

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RNS Number : 0951M  Gym Group PLC (The)  26 April 2024

The Gym Group plc

 

("The Gym Group, "the Group")

 

The Gym Group appoints Savills to advise on expansion plans

 

26 April 2024: Leading low cost gym operator, The Gym Group, announces that
it has appointed International real estate advisor Savills to advise on its
site selection, as it plans for circa 50 new openings across the UK over the
next three years. Analysis from PwC shows that the opportunity in the UK
extends to potential for between 600-800 additional sites in the low-cost
segment.(1) At its 2023 annual results in March, the Group shared its Next
Chapter plan for growth, which includes disciplined rollout of high quality
sites that deliver attractive returns and create shareholder value.

 

With gyms playing a valuable role in helping people to maintain healthy habits
across communities, The Gym Group was the first gym operator to measure the
Social Value it generates, created through regular exercise.2 The Gym Group is
also the first fitness operator in the world to have its net-zero targets
validated by the Science Based Targets initiative (SBTi).

 

Will Orr, Chief Executive Officer, The Gym Group, said: "We look forward to
working with Savills to support our Next Chapter growth plan. We have
identified the characteristics for high-performing gyms, and as we accelerate
the rollout of quality sites, we are prioritising the best gym locations and
delivering on our mission to give our members even greater access to our high
quality, low cost fitness."

 

Andy Hall, Joint Head of Out of Town Retail at Savills, comments: "We are
delighted to be working with The Gym Group on their growth strategy. As the
only national property consultancy with retail and leisure teams based across
the UK, we are excellently positioned to deliver a plethora of exciting
opportunities for The Gym Group as it continues to expand its offer and reach
more communities around the UK."

 

-ends-

 

For further information, please contact:

 

The Gym Group press office - press@thegymgroup.com
(mailto:press@thegymgroup.com)

Andy Hall, Savills retail - Tel: +44 (0) 7876 442525

Phoebe Bohana, Savills press office - Tel: +44 (0) 7972 000091

 

About The Gym Group

The Gym Group (https://www.thegymgroup.com/) was a pioneer of the low cost gym
model, and now operates 235 high quality sites across the UK. These gyms offer
24/7 opening and flexible, no contract membership. As at 31 December 2023
there were 850,000 members nationwide. Our gyms have over 60 million visits
per annum, score highly on member satisfaction and are consistently rated
'excellent' on Trustpilot. We are the world's first fitness operator to have a
net zero emissions target validated by The Science Based Targets Initiative
(SBTi).

 

 

(1) PwC Strategy& Headroom Analysis March 2024.

(2) Since 2019 The Gym Group has reported on the Social Value the business
generates using an internationally recognised model created by Sheffield
Hallam University and 4Global, focused on member participation and health
outcomes of regular exercise.

 

 

 

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