Propel makes ambitious Luxe Fitness renovation possible

Objective

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Luxe Fitness is a high-tech gym business launched in Bristol in 2018 by former British Olympian Allyn Condon following the refurbishment of one of the city’s oldest buildings and offers more than 150 pieces of high-tech equipment, 100 free classes, a virtual spin studio, HIIT zone, and juice and coffee bar at its base at Bedminster Parade.

Allyn is now looking to replicate the model at other sites in the Bristol area and across other locations in the South West, explaining: “We realised that there were so many gyms in the industry that were the same and looked at the fabric of this building to do something different.”

Opportunity

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Luxe Fitness wanted to get a state-of-the-art renovation project off the ground but restrictions around the site’s grade II listed status complicated plans. Propel took action with a £450k loan, breathing new life into a historic, city-centre building which had fallen into disrepair.

Outcomes

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Allyn Condon added: “The development project has been challenging at times, mainly because the building is listed, but support from Propel has helped Luxe Fitness take it to the next level. They were able to structure a package that met our needs and were quick, flexible and proactive in helping us get this project going – straight away, we knew it was the right solution for us.”

Mark Catton, group CEO of Propel, said: “Our aim is to offer alternative finance solutions that help businesses achieve their goals and generate return on investment quickly, while competing in a competitive marketplace. We’re thrilled to see that our tailored finance plan has helped Luxe Fitness to complete its grade-listed renovation project and create a high-tech gym that is clearly appreciated by many.

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