BILLION-DOLLAR FITNESS FIRM GEARS UP FOR UK STUDIO LAUNCH

BILLION-DOLLAR FITNESS FIRM GEARS UP FOR UK STUDIO LAUNCH

Leading US fitness equipment specialist Peloton is set to unveil its first UK studio in London’s Covent Garden, after striking a £10million property deal advised by Harper Dennis Hobbs.

Peloton, which uses technology to bring the intensity, fun and competitiveness of the indoor cycling studio direct to its revolutionary indoor bike, will move into the 20,000 sq ft. space in January 2019 to start construction. This follows its product launch in September 2018 and experiential pop-up event, currently live in the same location, that allows consumers to trial the Peloton bike in a home-like environment until the end of the year.

The studio will provide the location for all filming, recording and editing for Peloton’s UK content including daily scheduled rides which members can tune into via live streaming, alternatively they have the option to choose from over ten thousand pre-recorded rides.

Independent retail real estate agency Harper Dennis Hobbs worked with Peloton to secure the premium commercial unit on Floral Street, taking over the space that previously housed the famous Sanctuary Spa – a former favourite for many London celebrities and socialites which also featured in Joan Collins film ‘The Stud’.

Commenting on the move, James Ebel, CEO at Harper Dennis Hobbs, said:

“Peloton is a leading technology company that is revolutionising the home fitness industry and needed a space that would reflect the quality of its equipment and programming. Being centrally located, it is in prime position to attract the capital’s city workers.

“It’s positive for the UK retail market when a billion-dollar company sees the growth opportunities available here, particularly in a thriving area like Covent Garden. This further demonstrates how experiential retail is rapidly becoming key to a retailer’s success in today’s increasingly competitive marketplace.”

Kevin Cornils, Managing Director (International), added:

“James and the team at Harper Dennis Hobbs have an unrivalled experience of working with American retail companies coming to Europe and their knowledge has been critical for Peloton. We are delighted with the start of our UK journey.”

The studio forms part of Peloton’s £50million UK and European launch, which will see its bikes go on sale in retail sites across London. Advised by Harper Dennis Hobbs, the brand has acquired leases at Marylebone High Street, Kings Road, Canary Wharf and Spitalfields.

For more details on Harper Dennis Hobbs visit www.hdh.co.uk.