Gym Group, nationwide operator of 186 affordable gyms, is pleased to announce that it has signed a lease for a new gym in Stretford, Greater Manchester, which will open in July 2021.
The location rented from Derwent Holdings Limited is in one of Manchester’s busiest retail parks alongside a variety of popular grocery and retail outlets including M&S Food, Aldi, Home Bargains and Curry’s on the A56 Chester Road near Salford Quays and Old Trafford Football field.
The Gym Group will invest approximately £ 1.3 million in the 15,000 square meter gym, which will offer members a large, well ventilated gym with a wide range of high quality exercise equipment.
Members benefit from affordable no-contract memberships, 24-hour access and free on-site parking at a cost of £ 17 per month. Key new features in the Gym Group app include contactless entry, as well as the ability to check how busy the gym is before visiting.
The new gym will create 15 new jobs and create social value for the local community, which is a central part of The Gym Group’s strategy. The Gym Group recently commissioned a study from 4Global that estimated the social value per location generated in the prepandemic of the property to be £ 3 million per location.
With existing units in Manchester city center as well as in Fallowfield, Altrincham, Stockport and Handforth, the new location in Stretford further expands the Gym Group’s reach across Manchester and provides the local community with access to affordable fitness.
Oliver Tester, Head of Real Estate Acquisitions, commented: “We are excited to be expanding our presence in Manchester. The pandemic has highlighted the importance of fitness to mental and physical health, and we are pleased to extend further access to our gyms for the Stretford community.
There are significant opportunities for further growth ahead of us. Our strong contract and impressive track record make us an attractive tenant choice for landlords and we are well positioned to benefit from the significant changes in the retail property market. We look forward to welcoming and supporting our new members as they begin their fitness journey with us. “