The Gym Group has signed a 15-year lease for a new gym at an empty retail warehouse in York, citing the benefits from “the rapidly changing dynamics of the retail property market”.
The company, which operates 183 low-cost gyms, said the site will create 12 jobs after a circa £1.4m investment.
The location, on Foss Island Road next to a Halfords store, has been vacant since 2018. It will add a 5,000 sq ft mezzanine to a floorplate of 10,000 sq ft, and is expected to open in Q1 2021.
Oliver Tester, head of property acquisition, said: “York is a city where we have wanted to operate in for a long time, but until now we have not been able to find the right site in the right location with the appropriate deal.
“There remain many other key cities and towns similar to York where we can locate a Gym Group site where landlords can benefit from our strong covenant and our market leading position as the strongest capitalised company in the sector.”
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