{"id":481274,"date":"2025-10-07T21:39:11","date_gmt":"2025-10-07T21:39:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/481274\/"},"modified":"2025-10-07T21:39:11","modified_gmt":"2025-10-07T21:39:11","slug":"celeb-loved-third-space-lands-75m-for-london-growth","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/481274\/","title":{"rendered":"Celeb-Loved Third Space Lands \u00a375M for London Growth"},"content":{"rendered":"

OakNorth has provided a record leveraged finance loan to luxury fitness operator Third Space to support its London expansion<\/strong><\/p>\n

London\u2019s poshest gym just got a\u00a0major\u00a0boost.\u00a0<\/p>\n

Third Space, the celebrity-frequented health club\u00a0operator where IM8 co-founder David Beckham<\/a> has been spotted working out and Bero\u2019s Tom Holland<\/a> and\u00a0Zendaya are rumored to be members, has secured a \u00a375 million ($101 million) loan from OakNorth to accelerate its London expansion, marking OakNorth\u2019s largest leveraged finance loan to date.<\/p>\n

The capital refinances part of Third Space\u2019s existing structure and includes a \u00a325 million capex facility to fund new locations, including Oxford Street, Queen\u2019s Park and Chelsea.<\/p>\n

The funding follows OakNorth\u2019s original \u00a338.5 million co-lend in June 2023<\/a>.\u00a0Since the initial round,\u00a0Third Space\u00a0has expanded to 13 clubs across London, serving\u00a0more than\u00a042,000 members and reports that revenues have\u00a0risen\u00a0more than 90% since 2022.<\/p>\n

\u201cThis transaction marks another important milestone for Third Space<\/a> as we scale across London<\/a>,\u201d Third Space CEO Colin Waggett said. \u201cOakNorth has been a consistently supportive and engaged partner \u2013 quick to understand our model, agile in execution and committed to our long-term vision. With their support, we\u2019re well-positioned to bring the Third Space experience to even more communities.\u201d<\/p>\n

Third Space members enjoy a high-end fitness experience.\u00a0Clubs feature performance-driven training spaces\u00a0like\u00a0The Yard for multi-functional workouts, dedicated zones for HIIT, cycling, Reformer Pilates, strength and conditioning and combat,\u00a0along with\u00a0personal training, nutrition services, saunas, steam rooms and advanced recovery tools including Normatec boots and Hyperice massage guns.\u00a0<\/p>\n

Select sites\u00a0go further with\u00a0amenities\u00a0such as\u00a0hydropools, cryotherapy, ice baths and sports medicine. At Canary Wharf, a newly-launched Hyrox Training Space<\/a> offers a race-day-style setup for hybrid athletes in training.<\/p>\n

See Also<\/p>\n

\"Inside<\/a><\/p>\n

Deepesh Thakrar,\u00a0managing director\u00a0of\u00a0debt finance\u00a0at\u00a0OakNorth<\/a>, said the fitness group has outperformed expectations since the bank\u2019s first financing, including revenue, EBITDA and member growth.<\/p>\n

\u201cWe backed Third Space in 2023 based on the strength of the management team, brand and strategy \u2013 and they\u2019ve since exceeded every benchmark with waiting lists at every one of their sites,\u201d Thakrar said.<\/p>\n","protected":false},"excerpt":{"rendered":"OakNorth has provided a record leveraged finance loan to luxury fitness operator Third Space to support its London…\n","protected":false},"author":2,"featured_media":481275,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7757],"tags":[748,393,5036,4884,10168,257,159733,67981,159734,16,15],"class_list":{"0":"post-481274","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-london","8":"tag-britain","9":"tag-england","10":"tag-funding","11":"tag-great-britain","12":"tag-gyms","13":"tag-london","14":"tag-luxury-gym","15":"tag-oaknorth","16":"tag-third-space","17":"tag-uk","18":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115335054325042746","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/481274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=481274"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/481274\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/481275"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=481274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=481274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=481274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}