Extremely Popular Gym in East London

London
REF: INT2017

Asking Price:
£190,000
Annual Turnover:
£169,000
Annual Net Profit:
£30,001
REF: INT2017
Photo of Extremely Popular Gym in East London
Photo of Extremely Popular Gym in East London
Photo of Extremely Popular Gym in East London
Photo of Extremely Popular Gym in East London

Overview

Tenure:
Leasehold
Established:
2019
  • Friendly & Professional Team
  • Very Loyal Customer Base
  • Huge Growth Potential
  • Well Equipped Business
  • Spacious Premises

This is an exciting opportunity to purchase a popular gym in an ideal location.

Based in Wapping, just a short walk from Wapping Overground station, this fully equipped gym has been helping its clients achieve their fitness goals since establishment in 2019.

Offering a range of memberships to best suit their clients' needs, alongside access to the gym’s facilities members can also enjoy personal training sessions, classes, online programmes and body composition tests.

In an extremely popular area, their members are made up of both local residents and commuters who work in the nearby area. Over the years, they have built a fantastic reputation -now boasting a number of positive online reviews.

This business is part of a licence model. A fee of £750 is paid to the licensing company, which in turn provides a high reputational value through their branding, as well as leads through their website. A new buyer, however, could exit this agreement and rebrand if they wish. Three years remain of a five-year contract.

The gym is currently home to a professional and friendly team, made up of two personal trainers and a number of freelancers who can provide pilates, yoga and more. They also have a close association with a local physiotherapist, who pays rent in order to offer their services at the gym’s studio.

This is a leasehold opportunity, with rent payable at a rate of £65,000 per annum. The current lease is set to expire in 2026.

The gym is based in a very prominent location in Wapping. The building itself is impressive, having previously been a Victorian Warehouse. The gym is situated over the ground floor and basement of this Grade II listed building.

From street level, customers enter straight into the reception area where there are also changing rooms available. Downstairs is the well-equipped main gym and access to the studio area. The basement also hosts a staff room.

Included within the lease is access to the main area of Metropolitan Wharf, a meeting area with an impeccable view over the River Thames and free Wi-Fi.

All of the relevant equipment, fixtures and fittings are to be included in the advertised sale price. The vendor has advised they would be happy to provide a transitional handover period.

This is the perfect opportunity for an individual with experience in the fitness sector in search of an already established business with a stellar reputation.

At present, the gym has around 260 active members – with the current owner opting to run at a premium price point. The gym does have the capacity for up to 500 members, so reducing the entry-level cost base could be a way to drive more new members into the business.

Features

Key Information

  • Treatment Rooms: 1
  • Reception Area: Yes

Reputation

  • Google: 4.7

Online Presence

  • Facebook: Yes
  • Twitter: Yes
  • Instagram: Yes
  • Linkedin: Yes

Website: www.fitnessspace.com/wapping

Location

Loading...
  • Residential Location
  • City Centre Location
  • Close to Local Businesses
  • High Footfall
  • Good Transport Links

Property

Annual Rent
£65,000
Annual Rates
TBC
Lease Term (Years)
10
Lease Expiry (Year)
2026
Accommodation Included
No
EPC Rating
TBC

Financial & More

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Company Accounts
XXXX
Trading Entity
XXXX
Management Structure
XXXX
Number of Employees
XXXX
Current Ownership
XXXX

Refine

Miles
£
£
£
£
Timed popup