TL;DR
Get wellness gear delivered free — and shop member deals
- Fast, free delivery on millions of items
- Access to Prime Big Deal Days deals on October 6–7
- Prime Video, Amazon Music and more included
NRG Gyms has secured a £18.7 million ($24.8 million) funding package from HSBC UK and plans to grow from 13 gyms to 20 over the next two years. Leicester and Nottingham are among the planned locations; the company also expects the expansion to create more than 70 jobs.
NRG Gyms has secured £18.7 million ($24.8 million) in funding from HSBC UK to help open seven gyms across the United Kingdom over the next two years, the London-based operator said. The planned openings would increase its portfolio from 13 locations to 20, with Leicester and Nottingham identified as the first announced sites.
The company said £10 million of the package will be available through a revolving credit facility to support the construction of individual gyms. NRG has not disclosed the structure or terms of the remaining funding. It has identified Leicester and Nottingham for upcoming openings, while five further locations have yet to be announced.
NRG expects the expansion to create more than 70 jobs and increase revenue by over 60% during the next two years. Those figures are company projections; the announcement does not specify the revenue baseline or provide a breakdown by site. The schedule and hiring plans for each location have not been detailed.
The operator describes its offer as high-quality fitness at an accessible price. Its gyms include large-format layouts, high-spec equipment, group classes and women-only training areas. Monthly membership prices are reported at about £21.99 to £27.95, varying by location. NRG also plans to invest in member-facing software and technology, use data to inform site selection and develop its member ecosystem, including healthcare offerings.
Seven Sites Could Broaden NRG’s Reach
The plan would add seven locations, a roughly 54% increase on NRG’s current 13-gym portfolio if all openings proceed. It would extend the operator’s presence into additional towns and cities while giving the company a larger base from which to develop its membership and related services. The scale of the proposed rollout makes the funding relevant to existing members, prospective customers and communities where new gyms may open.
The financing also supports a business model positioned around lower monthly membership prices alongside group fitness and dedicated women-only training areas. NRG’s planned investments in software and healthcare offerings suggest that the company intends to expand its services as it adds sites. The announcement does not specify what those healthcare offerings will include or when they will become available, so their scope and effect on members remain uncertain.
The wider market offers context, but does not establish how NRG’s expansion will perform. A recent Deloitte and EuropeActive report cited in the original Athletech News report puts UK fitness memberships at 12.2 million in 2025. That figure describes the market, not NRG’s membership or an estimate of demand at its planned sites.
HSBC’s Earlier Support for NRG
The latest package follows earlier HSBC UK financing for NRG. In 2025, the bank provided the company with another eight-figure funding package to support its acquisition of Pump Gyms Limited. The new announcement describes continued backing, though it does not state whether the current package is tied to specific assets, sites or milestones beyond the disclosed revolving credit facility.
NRG founder and chief executive Shafiq Ahmed said HSBC’s backing over the past decade had helped the business more than double in size while it invested in its team and infrastructure. That is Ahmed’s account of the relationship and the company’s growth. The report does not give a detailed timeline of NRG’s expansion or a separate measure of how much growth was funded by HSBC.
NRG’s next phase is not limited to building gyms. The company says it intends to use a data-driven approach to identify future locations, improve member-facing technology and develop its member ecosystem. It also said it is exploring further acquisition opportunities. No specific acquisition target or timetable was disclosed.
““We have a strong pipeline of new sites ahead and are excited to explore further acquisition opportunities to accelerate our growth.””
— Shafiq Ahmed, NRG Gyms founder and CEO
Site Timings and Funding Terms
The announcement leaves several practical details open. NRG has named Leicester and Nottingham, but has not disclosed the five other planned locations, opening dates or the rollout sequence. It is also unclear whether the seven-site plan depends on further approvals, property agreements or other conditions.
Only £10 million is described as a revolving credit facility; NRG did not disclose the details of the balance of the £18.7 million package. The announcement also gives no breakdown of expected construction costs, funding drawdowns or revenue assumptions. The projected revenue increase of over 60% is not accompanied by a stated baseline or detailed calculation.
NRG has not provided specifics on the promised technology and healthcare investments, including their budgets, features or launch dates. The original report does not give independent confirmation of the company’s job and revenue forecasts, or show how those projections compare with the operator’s past performance.
Five Locations Still to Come
NRG’s next stated steps are to advance plans for Leicester and Nottingham and announce the other five locations. Further announcements may clarify site addresses, opening schedules, recruitment and membership availability. The company has not set a public date for those updates.
As the two-year expansion period progresses, members and local communities will be able to track whether the planned gyms open and whether hiring follows the forecast of more than 70 jobs. NRG has also said it will develop its software, technology and member ecosystem, but has not supplied delivery dates or milestones for those projects. The company’s acquisition plans may produce a separate development, although no transaction has been announced.
Key Questions
How much funding did NRG Gyms secure?
NRG secured a £18.7 million ($24.8 million) funding package from HSBC UK. The company said £10 million will be available through a revolving credit facility; terms for the rest were not disclosed.
How many gyms does NRG plan to open?
NRG plans to open seven gyms over the next two years, growing its portfolio from 13 locations to 20. Leicester and Nottingham have been identified, with five sites still to be announced.
How many jobs could the expansion create?
NRG expects the expansion to create more than 70 jobs. This is a company forecast, and the announcement does not say how roles will be divided among the locations.
Will the funding pay for technology or healthcare services?
NRG separately said it plans to invest in member-facing software and technology and develop its member ecosystem, including healthcare offerings. The company has not disclosed the specific services, budgets or timing.
Source: rss
Evergreen bestsellers Picks
bestsellers
As an affiliate, we earn on qualifying purchases.
