Shoosmiths helps Third Space expand its London fitness footprint
September, 2022 - Milton Keynes, England
Shoosmiths has advised Third Space on the acquisition of two new landmark locations.
The law firm supported the fitness and health club operator on adding two new clubs to its roster, with the top-of-the-range facilities set to open in Wimbledon and Battersea in 2023.
Acquiring 70,000 sq ft of health and fitness space across the two sites, these new clubs form the latest part of Third Space’s expansion plans. The company recently announced clubs in Moorgate and Wood Wharf, with an aim to operate an estate of 11 by the end of next year.
The new facilities are set to be purpose built and constructed as part of two landmark developments. The club in Battersea will be on the pedestrianised high street, Electric Boulevard, to the south of the grade II listed power station. The Wimbledon club is located at the Centre Court Shopping Centre, which is currently undergoing a wider transformation.
Shoosmiths advised Third Space across a range of disciplines including real estate, construction, planning and tax. Leading the Shoosmiths team were principal associate Chris George and senior associate Emma Foulds with support from partner Nathan Rees.
Colin Waggett, CEO of Third Space, said:
“We can’t wait to continue expanding our current club network in Battersea and Wimbledon, reaching new areas in London. In doing so, we achieve our simply stated dual aims of getting better and bigger. The inspiringly designed clubs will provide the critical essentials of world-class training facilities, supported by best-in-class experts in a luxurious environment – all features that Third Space members have come to expect.”
Chris George, real estate principal associate at Shoosmiths, added:
“Third Space is raising the bar when it comes to creating health and fitness facilities. These two new locations build on this, with both projects also set to form part of a wider regeneration programme at the Battersea Power Station and Centre Court Shopping Centre.
“Shoosmiths’ partnership with Third Space spans several years. Our team has assisted its expansion across London including in Islington, Mayfair, Marylebone and Canary Wharf – providing key real estate advice and enabling the firm to deliver its growth plans.”
