Wantage: Fitness centre grows with backing from Santander

Wantage-based tfd Health & Fitness, a local health and fitness facility owned by Paladin Leisure, has completed a 3,000 sq ft extension and major refurbishment following £135,000 in funding from Santander Corporate & Commercial. The project has created new studios for increased numbers of classes, improved facilities and equipment, and resulted in three new jobs.

Established in 2004, tfd Health & Fitness has benefitted from strong membership demand due to its comprehensive range of facilities. It offers cardio and free weights equipment along with a pool, steam room and sauna, while classes include Pilates, yoga, circuits, insanity, kettlebells and bosu. The site also houses hair and beauty salons and a sports injury clinic.

The expansion supported by Santander is forecast to result in a 33% increase in memberships; it has also allowed the business to commit to a new long-term lease to support the fast-growing local population. In addition to the funding, Santander also intermediated an asset finance facility provided through Macquarie to assist with funding new equipment and upgrading existing equipment.

Lisa Auchinvole, director, Paladin Leisure, said: “The population of the local area has been expanding rapidly with housing for around 5,000 people currently under development, so we think now is a great time to expand. The funding has allowed us to add a mezzanine floor to the building which has created two new fitness studios and an overhaul of floor space downstairs to modernise the equipment and our exercise options.”

Kevin Farrell, relationship director, Santander Corporate & Commercial, said: “We discussed financing at an early stage with Lisa and the team at Paladin and worked together to shape an appropriate funding structure for tfd Health & Fitness. They have a clear and compelling growth-focused business case and we are delighted to have been able to support them at this exciting time.”