David Lloyd Leisure in search for new club locations

David Lloyd Leisure is seeking to identify suitable locations in the UK for the expansion of its portfolio of health clubs and high street studios.

The company, recently acquired by private equity firm, TDR Capital LLP, announced in September 2013 that it had earmarked opportunities to invest more than £50m across the existing estate and has identified a pipeline of more than 20 potential additional sites in the UK as well as several mergers and acquisitions opportunities.

With 81 clubs in the UK and 10 across Europe, David Lloyd Leisure has ambitious plans to expand its non-membership high street health and fitness concept, David Lloyd Studio. Three initial sites have opened since September 2012 and there are plans to roll out up to 20 new studios each year in communities where a full-size club is not feasible.

The company recently opened its first group training studio in Islington, north London, and is now seeking further city and town centre locations for expansion of its group training model, focusing particularly on Greater London and other major UK cities. Requirements include floor space of at least 2,300 sq ft (214sq m), close to public transport and covered by a 10-year lease with fixed rental uplifts.

In terms of its large health clubs, site requirements include 4-4.5 acres of land on a freehold or long leasehold basis, with both existing facilities and new build opportunities considered.

Real estate firms CBRE and Ian Scott International are assisting David Lloyd Leisure in its search.