Parkwood begins operation in the private fitness sector

Parkwood Leisure has begun operation in the private health and fitness sector, following the acquisition of two Sportz Academy clubs in Hertfordshire.

The group announced plans to launch in the private fitness market last month, with the development of a new-build club in Sailsbury, south Wiltshire, due to open at the end of the year.

Since then, the group has completed contracts to assume the leases and business assets of the privately-owned Sportz Academy sites in Hitchin and Potters Bar.

The clubs have been rebranded as Parkwood Health & Fitness and are expected to generate around £1.5m of additional group revenue per year.

In addition, Parkwood Leisure has reached financial close on a Public Private Partnership for two leisure centres operated on behalf of Solihull Metropolitan Borough Council. A total of £14m will be invested across the sites.

Tony Hewitt, executive chair of parent company Parkwood Holdings, said: “These deals are part of our strategy to double the size of our leisure division over the next two to three years.” Details: www.parkwood-holdings.co.uk

Photograph: Parkwood plans to open a private health club in Salisbury at the end of the year