Canary Wharf’s Reebok in West End health club take-over deal by Encore Capital
PUBLISHED: 21:09 29 October 2014 | UPDATED: 21:09 29 October 2014
Owners of the Reebok health club in the Canary Wharf business district have taken over two prestigious West End gyms.
The Encore Capital investment firm, which backs entrepreneurial growth businesses, announced its acquisition of Third Space, a luxury health and fitness club operator, which it has purchased for an undisclosed sum from Graphite Capital, the mid-market private equity specialist.
“This acquisition allows us to augment a growing proposition of a holistic, tailor-made approach to health,” Encore’s Shirin Gandhi said. “We’re using state-of-the-art training facilities and utilising the latest trends and techniques, all in luxurious surroundings.”
Third Space with its state-of-the-art facilities, runs two clubs in Soho and Marylebone.
The take-over deal adds another 5,000 to Encore’s membership base.
It also strengthens the company’s place in the London fitness market, complimenting its prized Reebok venue, Europe’s largest luxury health club which occupies 100,000sq ft in the heart of Canary Wharf.
Encore’s growth agenda plan is to own and run “iconic premium health clubs” in key locations across London.
Meanwhile, the Reebok club has been undergoing a huge multi-million pound refurbishment and extension of facilities since July, following feedback from members, which includes latest health and fitness trends from around the world.