Budget chain The Gym Group acquires three new sites

Image: The Gym Group CEO John Treharne

Budget chain The Gym Group has continued its aggressive expansion in the UK by acquiring three new sites.

The new clubs will be located in Gloucester (a 16,000sq ft site), Newcastle-upon-Tyne (17,000sq ft) and Peterborough (15,000sq ft). Cushman & Wakefield advised the company on all three sites.

Earlier this summer, The Gym Group reported an "outstanding year" in which it saw continued turnover and membership growth despite a "flat market place".

In 2011, the chain expanded its portfolio from 10 to 16 gyms and has continued its expansion this year with 24 sites currently in operation. It has more than 15 sites in its development pipeline.

Jeremy Phillips, property director of The Gym Group, said: "We're seeing landlords wanting to transact with a leading tenant who has a clear and sustainable business plan for future success.

"We only want to open sites which will still be successful in 10 years' time."