Member Article

24 hour gym opens in Central London after securing £300k NatWest funding

24 hour gym, Anytime Fitness, in Pilgrim Street near St Paul’s Cathedral, has opened its doors after securing £300k NatWest funding.

The gym was set up by property investor Shravan Reddy, who boasts a in banking, business development and sales.

Shravan has spent the past two years working on his new venture, which caters for both City workers and local residents.

Open 24 hours a day, seven days a week, Anytime Fitness offers brand new equipment, weights and a studio area, and is part of the fastest-growing gym franchise in the world, established in 22 countries with 2,750 gyms and 2.5 million members.

The site was converted after previously being used as offices and significant refurbishment was required before the gym could open.

As a result, Shravan approached NatWest in order to secure £300k in funding to enable work to happen.

The bank’s asset finance arm, Lombard, also helped by providing funding to enable the purchase of gym equipment.

Shravan said: “A couple of years ago I wanted to do something a little bit different in an industry that was going to get me out and about and which would be beneficial to others.

“We’re competitively priced, with a high perceived value, close to lots of people, open 24 hours with top of the range equipment and lots of friendly staff looking after our members, who can use any of the 2,750 gyms in the world. In setting up the business Shravan worked closely with NatWest Senior Relationship Manager Andy Slade.

Shravan continued: “I spoke to other banks but NatWest and Andy were fantastic. They spent lots of time and effort looking at the business plan and it was the support that Andy and his team provided that clinched it for me.”

Andy commented: “It’s been a pleasure to work with Shravan and to see his plans come to fruition. We’ve been happy to play our part in getting the gym open for business and I’m sure it will prove to be a great success.”

This was posted in Bdaily's Members' News section by Ellen Forster .