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NRG Gyms has secured an £18.7 million funding package from HSBC UK and plans to open seven gyms over the next two years. The operator has identified Leicester and Nottingham for openings and says the expansion could create more than 70 jobs; the remaining five sites have not been named.
NRG Gyms has secured £18.7 million (about $24.8 million) in funding from HSBC UK to support seven planned gym openings over the next two years, taking the London-based operator from 13 locations to 20. The company has identified Leicester and Nottingham for upcoming gyms and says the expansion is expected to create more than 70 jobs.
NRG said it will use the funding to expand its network across the United Kingdom. It has named two of the seven planned sites, in Leicester and Nottingham, and said it will announce the other five locations later. The operator did not provide opening dates for the individual gyms.
£10 million of the package is available through a revolving credit facility intended to support the construction of individual gyms, according to the report by Athletech News. NRG has not disclosed how the remainder of the funding is structured or the specific terms of the package.
The company expects the expansion to increase revenue by more than 60% over the next two years. That is NRG’s projection, rather than a reported result. Its plans also include investment in member-facing software and technology, data-led site selection and development of its member ecosystem, including healthcare offerings, the company said.
Seven New Sites, More Than 70 Jobs
The funding gives NRG a route to pursue a sizeable increase in its gym network, with seven planned openings equal to more than half its current 13 locations. For people in the towns selected, new sites could add access to the operator’s facilities and classes. NRG has not yet confirmed the addresses or opening dates, so the local impact will depend on where and when the gyms open.
The projected 70-plus jobs and revenue growth indicate the scale NRG is aiming for. Those figures are company expectations tied to the two-year expansion plan; the source material does not provide a breakdown by location or role.
The funding also supports a business strategy beyond adding physical sites. NRG says it intends to put money into software, technology and member services alongside its property expansion. How those investments will affect membership or the customer experience has not been detailed.
HSBC’s Continued Support for NRG
The new package extends a financing relationship between NRG and HSBC UK. The bank provided an eight-figure funding package in 2025 to support NRG’s acquisition of Pump Gyms Limited. NRG founder and chief executive Shafiq Ahmed said HSBC’s backing over the past decade had helped the company more than double in size while it invested in its team and infrastructure.
NRG describes its offer as high-quality fitness at an accessible price. Its gyms have large-format layouts, high-specification equipment, group classes and dedicated women-only training areas. Reported monthly membership prices range from £21.99 to £27.95, with the exact price varying by location.
The wider market provides some context for the expansion: the source report cites a Deloitte and EuropeActive study that counted 12.2 million UK fitness memberships in 2025, as the European fitness sector continued to grow. That industry figure describes memberships, not necessarily unique people, and does not establish how much demand NRG’s new sites will attract.
“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
Five Sites and Funding Terms Pending
Five of the seven locations have not been announced, and the company has not given opening dates for Leicester, Nottingham or the other planned sites. NRG also has not disclosed the structure or terms of the portion of the funding package beyond the £10 million revolving credit facility.
The expected revenue increase of more than 60% and creation of more than 70 jobs are forecasts from NRG. The report does not specify the baseline or calculation behind the revenue projection, how jobs will be distributed, or what share of the funding will go to software and other member services.
NRG to Name More Locations
NRG says it will announce the remaining five sites as its plans progress. Over the next two years, the company intends to open all seven gyms and continue investing in software, technology and its member ecosystem. It has also said it will explore acquisition opportunities, but has not disclosed a timetable or named potential targets.
The next details to watch are the locations and opening schedules for the new gyms, alongside updates on how NRG allocates the undisclosed portion of the HSBC package. These would provide a clearer view of how the funding translates into completed sites and jobs.
Key Questions
How much funding did NRG Gyms secure?
NRG secured an £18.7 million package from HSBC UK, reported as about $24.8 million. The company said £10 million is available through a revolving credit facility for gym buildouts; it has not disclosed the details of the rest.
Where will NRG Gyms open new locations?
NRG has identified Leicester and Nottingham. It plans seven openings in total and says it will announce five more locations.
When will the new gyms open?
The company plans to open the seven gyms over the next two years. It has not announced individual opening dates.
How many jobs could the expansion create?
NRG expects the expansion to create more than 70 jobs. The company has not provided a breakdown by site or job type.
Source: rss
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