F45 Training secured their fifth London site at Avignon’s West End Quay, Paddington asset, which opened in Q4 2017, having agreed a new 10-year lease for the 2,500 sq ft unit.
F45 Training is a global fitness franchise, established in Australia in 2013 and has since opened more than 800 studios globally, with an additional 29 studios to open in London next year.
F45 Training is a new training concept, offering 45-minute HIIT (high intensity interval training) circuit training classes in boutique studio environments. Instructors guide people through a series of 45-second exercises, the focus is on doing functional exercises – hence the F in F45 – which means engaging multiple muscle groups at the same time.
The F45 Training brand is innovative, challenging and one of the fastest growing fitness franchises in the world.
Sarah Page, Asset Manager at Avignon Capital said: “The recent letting to the Australian gym operator F45 Training on the Paddington Basin, is exactly the type of operator that we wanted to attract at West End Quay and has already played an important role in helping to create a real destination for the local residents and office occupiers alike.”
“With the addition of the Floating Village in the summer and the opening of The Draft House early in October, the tenant offering around the basin has improved significantly which is seeing a positive impact on rental growth and value.”
The letting to F45 Training has helped to create a hub of activity which has also benefitted the other tenants including The Draft House, Headmasters, Tescos and Superdrug, and now offers a strong mix of retail tenants.
Avignon Capital acquired the West End Quay asset in 2004. The asset comprises of 13 ground floor retail units and is 100% occupied.
There has been a lot of asset management activity this year at West End Quay, with many lease and rent review initiatives executed in the last 12 months such as new lettings to Frasers and creating a new bigger unit to facilitate Hope Montessori’s expansion.