Invest in Health is seeking £5m of private investment to launch two Blue Spa wellness outlets next year at Tate Modern and Battersea Power Station, Property Week can reveal.
Invest In Health’s BlueSpa brand
The agency and wellness development company is in talks to take 14,000 sq ft at Tate Modern and 7,500 sq ft at Battersea Power Station.
The £5m investment would fund the design, fit-out, technology platform, recruitment and launch of the first two BlueSpa sites.
The company expects each flagship BlueSpa destination to support between 800 and 1,250 members and forecasts margins on earnings before interest, tax, depreciation and amortisation of around 52%.
It is targeting hotels, mixed-use developments and destination retail schemes for further locations.
BlueSpa is one of three wellness concepts founded by former David Lloyd executive Andrew Davill and property adviser Stephen Henderson under their Invest in Health platform, the other two being wellness and aquatic brand SwimSpa, and GSpa, a roadside and travel-sector brand for high-footfall locations.
Davill said membership-led wellness represents “one of the next significant opportunities within operational real estate”.
He added: “The commercial property market is evolving rapidly. Landlords are increasingly looking for occupiers that do more than simply lease space; they want concepts that create destinations, generate repeat visits and strengthen the wider scheme.
“BlueSpa has been designed around those principles. We believe membership-led wellness represents one of the next significant opportunities in operational real estate, combining predictable, recurring revenues with growing consumer demand for health and wellbeing experiences.”
Henderson said: “Operational real estate has become one of the most exciting areas of investment because value increasingly comes from the strength of the operating business as much as the underlying property. We believe wellness is following a similar trajectory to sectors such as build-to-rent, self-storage and purpose-built student accommodation.
“Our ambition is to work with developers, institutional investors and landlords to unlock underutilised retail, leisure and hospitality space through commercially sustainable wellness destinations.”
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