The Third Space
The Third Space is a London-based luxury health club operator running approximately 17 premium fitness clubs, offering multi-tier memberships (£245–£325/month) with group classes, personal training, recovery spas, performance testing, and nutrition services for affluent urban professionals and corporate clients.
- Company typePrivate
- Founded2000
- HeadquartersLondon, United Kingdom
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What The Third Space does
The Third Space is a London-based luxury health club operator running approximately 15–17 premium fitness clubs across the city, with additional openings scheduled through 2026. Founded in 2000 (per firmographics, though one source indicates 2012), the company serves affluent urban professionals and corporate clients through a multi-tier membership model priced at £245–£325 per month, with joining fees of £100–£200. The core proposition combines high-spec training facilities (Olympic lifting areas, Reformer Pilates studios, HYROX zones, 20m pools, climbing walls), 270+ group classes weekly, personal training via the proprietary Third Space Academy, and an integrated wellness ecosystem including Recovery Spa (Cryotherapy, Red Light Therapy), Sports Med, Performance Lab biometric testing, nutrition services, and the Natural Fitness Food café sub-brand.
The technology platform centers on iOS and Android mobile apps (built on the Fisikal member platform) for class booking, membership management, freeze requests, and on-demand workout streaming. Performance Lab uses third-party hardware from VO2 Master, InBody, VALD Dynamo, MX3, and Shosabi to deliver physiological assessments; WHOOP integration supports personal training data flows. Operational integrations include Stripe for payments, HubSpot for CRM, Cliniko and Phorest for booking, and Google Analytics/Hotjar/Microsoft Clarity for web analytics.
Revenue is predominantly recurring membership subscriptions, supplemented by personal training (£85+/hr), Performance Lab testing (£115–£650), spa treatments, locker rentals (£40–£80/month), nutrition consultations, and corporate membership packages. The company is majority-owned by KSL Capital Partners, which acquired its stake in 2021 and is reportedly preparing a sale at a ~£700M valuation with Goldman Sachs engaged. An £88.5M debt facility from OakNorth and Searchlight Capital Partners (September 2023) is funding the build-out to up to 30 locations across London and internationally.
The Third Space firmographics
Firmographics- Name
- The Third Space
- Legal name
- Third Space
- Website
- https://www.thirdspace.london/
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- The Third Space is a London-based luxury health club operator running approximately 17 premium fitness clubs, offering multi-tier memberships (£245–£325/month) with group classes, personal training, recovery spas, performance testing, and nutrition services for affluent urban professionals and corporate clients.
- Ownership category
- akta.pro rank
The Third Space industry classification
Industry- Product category
- Premium Fitness Clubs
- NAICS
- Fitness and Recreational Sports Centers (713940), Snack and Nonalcoholic Beverage Bars (722515)
- SIC
- Services-Membership Sports & Recreation Clubs (7997), Services-Amusement & Recreation Services (7900)
- akta.pro primary industry
- Premium/Upmarket Membership Clubs (CRAEADAG)
- akta.pro secondary industries
- Specialty Membership Clubs (Category-Focused) (CRAEADAI), Luxury Wellness & Spa Resorts (THAGACAG)
Keywords
Where The Third Space is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices17 records
Markets served
The Third Space business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain
Revenue model
- Membership Subscriptions: Monthly recurring membership fees with tiered access levels. Individual club membership from £245/month, Group membership at £285/month, and Group Plus at £325/month. Includes joining fees of £100-£200.
- Personal Training Sessions: One-on-one coaching sessions with certified trainers. Sessions start from £85/hour. Tiered PT levels from standard to Elite Personal Training.
- Locker Rentals: Private lockers at £40/month and Executive lockers at £80/month with additional benefits including laundry service and guest passes.
- Spa and Recovery Treatments: Standalone spa services including cryotherapy, massage, facials, acupuncture, and aesthetics. Available to both members and non-members.
- Natural Fitness Food: On-site café and food service offering nutritional meals and shakes across all club locations.
- Performance Lab Testing: Advanced fitness assessment packages ranging from £115-£375 for individual tests, with comprehensive packages at £375 and re-test bundles at £650.
- Nutrition Consultations: One-off nutrition consultations at £120 and monthly bespoke nutrition programs at £195 with ongoing support and weekly check-ins.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Club Membership - Single location access |
| Subscription | Monthly | Group Membership - Multi-club access (excluding Mayfair and Chelsea) |
| Subscription | Monthly | Group Plus Membership - Full multi-club access |
| Subscription | Monthly | Private Locker Add-on |
| Subscription | Monthly | Executive Locker Add-on |
| Unit Pricing | Pay-as-you-go | Personal Training - Standard Tier |
| Unit Pricing | Pay-as-you-go | Performance Lab Testing Packages |
| Unit Pricing | Pay-as-you-go | Nutrition Consultation |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
The Third Space product offering
Product offeringCore offering
The Third Space sells multi-tier monthly memberships (Club, Group, Group Plus from £245–£325/month) granting access to 15+ luxury health clubs across London with 270+ weekly classes, pools, wet spas, and specialised studios. Members and walk-ins can purchase add-on services including personal training, Performance Lab physiological testing, Recovery Spa treatments, Sports Med physiotherapy, bespoke nutrition consultations, private/executive locker rentals, and on-site Natural Fitness Food meals and shakes.
Product overview
The Third Space is a luxury health club operator in London offering a comprehensive fitness and wellness platform. The core offering consists of multi-tier membership programs (Club, Group, Group Plus) providing access to 17 luxury health clubs across London, each with world-class training facilities including pools, spas, and specialized studios. The product ecosystem includes group fitness classes (270+ weekly), personal training (with Elite and standard tiers), and Recovery Spa services. Add-on modules include Performance Lab (advanced fitness testing), Sports Med (physiotherapy and medical services), Nutrition Services (consultations and bespoke programmes), Natural Fitness Food (nutritional products), On-Demand digital classes, and Private/Executive Lockers. The company also offers Corporate Membership packages for business clients. All services are integrated through a proprietary mobile app for booking, membership management, and on-demand content access.
Differentiator
Problem solved
Functional benefit
Brands
- Natural Fitness Food: Nutrition-focused food brand offering healthy meals and shakes at Third Space clubs, with categories including Lean, Fuel, Fuel+, Nourish, and Vegetarian options.
- Performance Lab
Quantifiable outcome
- Most clubs operating with waiting lists, indicating exceptionally strong membership demand
- +1 more outcomes
Companies that use The Third Space
Customer profileSegments2 records
Ideal customer profiles2 records
The Third Space technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature4 records
The Third Space partnerships and signals
Strategic signalScale indicators8 records
Recent moves6 records
Expansion highlights5 records
The Third Space competitors and assessment
Company assessmentDirect peers
- Equinox: US-founded luxury fitness operator with a comparable premium positioning, high-end club design, integrated spa and wellness services, and tiered membership pricing. Closest international analogue to The Third Space's luxury health club model.
- David Lloyd Leisure: UK's leading premium family health club chain offering multi-club access, group classes, spa, and racquets. Competes directly with The Third Space across affluent London suburbs for premium memberships.
- Virgin Active: Premium health club operator with strong London presence, tiered memberships, group classes, and integrated wellness. Directly comparable on price positioning and target demographic.
- Nuffield Health: UK premium health and wellbeing provider combining fitness clubs with medical, physiotherapy, and health screening services — a similar integrated wellness playbook to The Third Space's Sports Med and Performance Lab offerings.
- BXR: London-based luxury boutique fitness brand offering premium training, recovery, and wellness under a single membership. Directly comparable as a high-end London fitness competitor with strong brand positioning.
- Ten Health & Fitness: London boutique premium fitness and physiotherapy chain combining clinical, Pilates, and training services. Comparable on integrated wellness, target demographic, and London-only footprint.
- Barry's: Global premium boutique fitness brand with a strong London presence. Competes for the same affluent, fitness-engaged consumer with high-intensity group training at premium price points.
- Core Collective: London premium boutique fitness and wellbeing brand offering training, Pilates, physiotherapy, and recovery. Comparable on premium London positioning and integrated wellness stack.
Broad incumbents
- Soho House: Global members-only lifestyle club combining hospitality, fitness, spa, and dining under a premium membership model. Comparable on the 'paid third space' concept and affluent London member base, though broader in scope beyond fitness.
Regional players
- Lanserhof: European luxury medical wellness and longevity brand operating premium clinics with integrated fitness, diagnostics, and recovery. Comparable on the ultra-premium wellness positioning though primarily medical-led rather than fitness-led.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
The Third Space social profiles
Digital presenceThe Third Space financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Third Space leadership team
Management profileNumber of profiles
Profiles2 records
The Third Space subsidiaries and ownership
Company hierarchySubsidiaries1 record
The Third Space funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Third Space M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Third Space
What does The Third Space do?
The Third Space sells multi-tier monthly memberships (Club, Group, Group Plus from £245–£325/month) granting access to 15+ luxury health clubs across London with 270+ weekly classes, pools, wet spas, and specialised studios. Members and walk-ins can purchase add-on services including personal training, Performance Lab physiological testing, Recovery Spa treatments, Sports Med physiotherapy, bespoke nutrition consultations, private/executive locker rentals, and on-site Natural Fitness Food meals and shakes.
Is The Third Space a public or private company?
The Third Space is a private company. It is classified as private equity controlled and is currently operating.
When was The Third Space founded?
The Third Space was founded in 2000. It employs 1,001 to 5,000 people.
Where is The Third Space based?
The Third Space is headquartered in London, United Kingdom, in the Europe region.
How does The Third Space make money?
Seven revenue lines are on record. Membership Subscriptions are the primary driver. The others are personal Training Sessions, locker Rentals, spa and Recovery Treatments, natural Fitness Food, performance Lab Testing and nutrition Consultations.
Who are The Third Space's main competitors?
Direct peers on record are Equinox, David Lloyd Leisure, Virgin Active, Nuffield Health, BXR, Ten Health & Fitness, Barry's and Core Collective. Soho House is listed as a broad incumbent. Lanserhof is listed as a regional player.
Does The Third Space have an API?
No public API is recorded for The Third Space.
What industry is The Third Space in?
The Third Space's product category is Premium Fitness Clubs. Its primary akta.pro industry code is CRAEADAG, Premium/Upmarket Membership Clubs, with a secondary code of CRAEADAI, Specialty Membership Clubs (Category-Focused). Its NAICS code is 713940 and its SIC code is 7997.