The Third Space

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.

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

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

• Luxury health club
• Premium fitness membership
• Personal training services
• Group fitness classes
• Spa and recovery services

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices17 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. 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.
2. 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.
3. Locker Rentals: Private lockers at £40/month and Executive lockers at £80/month with additional benefits including laundry service and guest passes.
4. Spa and Recovery Treatments: Standalone spa services including cryotherapy, massage, facials, acupuncture, and aesthetics. Available to both members and non-members.
5. Natural Fitness Food: On-site café and food service offering nutritional meals and shakes across all club locations.
6. 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.
7. Nutrition Consultations: One-off nutrition consultations at £120 and monthly bespoke nutrition programs at £195 with ongoing support and weekly check-ins.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core 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

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature4 records

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct 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

• Facebookfacebook.com/Third-Space-London-1676007649313459
• LinkedInlinkedin.com/company/the-third-space

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Third Space