Witness The Fitness as Developers Adopt On-Site Gyms
Witness The Fitness as Developers Adopt On-Site Gyms – is this the Next Generation of Property Investments
In a recent survey by property experts CBRE, nearly 76% of respondents named on-site gyms as their top priority within residential developments.
As health-conscious residents begin to crave more well-rounded fitness plans, the rise of ‘boutique’ fitness studios has boomed, increasing by nearly 400% over the last six years across the US. This trend has quickly expanded into the UK, taking the residential market by storm as developers look to include on-site gyms and fitness studios in their Next Generation of Property Investments
In similar research with Trainfitness, a survey found that out of 2,000 Londoners, 51% found that work commitments got in the way of their workouts while 68% blamed membership fees. As more new-build apartments have added gyms to their facilities, increasingly these problems are being resolved for residents who want an all-round workout studio within walking distance of home. According to Knight Frank, “tenants priorities are more focused on ‘internal’ factors – amenities within the apartments”.
These types of amenities are often at the top of many modern tenant wish-lists, as residents look for a complete lifestyle package on their doorstep. In a GoCompare survey identifying ‘what tenants want’, 30% of 25 – 34 year-olds said access to gym/swimming pool facilities was a priority for them. From communal areas to swimming pools and fitness studios, developments that can provide these types of facilities are attracting renters looking for more value.
Looking at markets further out of the capital – particularly in the commuter belt – developments that include these lifestyle amenities while also offering direct access to travel links are few and far between, proving potentially lucrative for property investment. As more renters look for affordability and value, a development with a unique range of facilities in addition to rail or air links hits all of the needs of the modern tenant.
For investors, facilities like The Life Club guarantees added value within the rental market and the opportunity to mitigate void periods. For tenants, aside from the obvious value of having these facilities on site, spaces such as The Life-Club can become a communal hub for the resident community.
Within The Grand Exchange, The Life-Club embodies the 360-degree fitness lifestyle that the modern tenant desires. No longer focused on just weights and cardio, The Life-Club takes a more holistic approach to fitness, providing a full workout suite alongside a bespoke yoga studio.