The Gym, the UK’s fastest growing low-cost fitness chain, is the latest occupier to take space at IM Properties’ Phoenix House in Milton Keynes.
The 15,500 sq ft deal has been secured on a 15 year lease and represents the largest letting in the centre of Milton Keynes this year.
The space is split across the ground and first floors, with the 2,300 sq ft ground floor unit to be converted into a reception and 13,200 sq ft on the first floor to hold the main gym.
The Gym, which is open 24 hours a day, will feature at least 170 pieces of high-tech equipment and free weights and when opened in early 2014, will take the number of UK sites to 41.
The Gym is expected to open to the public by February 2014, following completion of landlord works and full fit-out by the occupier.
John Treharne, CEO of The Gym Group said: “The location and accessibility of Phoenix House were deciding factors for us when we were looking for a suitable location, as we operate around the clock and need to ensure that our members have the flexibility to work out any time of day or night.”
Phoenix House is located in Station Square, adjacent to Milton Keynes Central railway station, just minutes from the national motorway network. IM’s extensive refurbishment of the office accommodation has included new air conditioning, lighting, lifts, toilets and showers, a reception area and card access entry system, and a high ratio of secure car parking.
The property is surrounded by headquarters of blue chip companies including Santander and Network Rail.
Rob Hemus, Asset Manager, IM Properties, said: “The flexibility offered at Phoenix House has enabled The Gym to create a completely self-contained unit featuring full gym area and stand-alone reception, which will support their model of offering 24-hour access to customers.
“We are continuing to see positive interest in Phoenix House as a location, which is testament to the quality of both the building itself and Milton Keynes as a business and leisure destination.”
Phoenix House is being jointly let by Louch Shacklock & Partners and Cushman & Wakefield with remaining space including circa 8,000 sq ft on the first floor and circa 4,000 sq ft on the ground floor.