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NRG Gyms has secured £18.7 million in funding from HSBC UK to support plans for seven new gyms over the next two years. The London-based operator says it aims to grow from 13 to 20 locations, create more than 70 jobs and increase revenue by over 60%; the revenue figure is the company’s expectation.
NRG Gyms has secured £18.7 million in funding from HSBC UK to support plans to open seven gyms across the United Kingdom over the next two years. The London-based operator says the expansion would take its portfolio from 13 locations to 20, with Leicester and Nottingham identified for upcoming sites.
The funding package is valued at £18.7 million, equivalent to about $24.8 million, according to the report by Athletech News. NRG said £10 million will be available through a revolving credit facility to support the construction of individual gyms. The operator has not disclosed how the remaining funding is structured or what conditions apply to the package.
Leicester and Nottingham are the first named destinations in the expansion. NRG said five more locations are to be announced, but has not provided their names or opening dates. The company expects the growth plan to create more than 70 jobs and increase revenue by over 60% during the next two years. Those figures are company projections; the report does not provide a revenue baseline or a breakdown of anticipated roles.
NRG describes its offer as high-quality fitness facilities at accessible prices. Its gyms include large-format layouts, high-specification equipment, group classes and dedicated women-only training areas. Monthly memberships are reported at approximately £21.99 to £27.95, with prices varying by location. NRG also says it plans to invest in member-facing software and technology, use data to assess potential sites and develop its member services, including healthcare offerings.
Seven New Sites and Local Jobs
The package gives NRG funding to pursue a defined expansion plan across UK towns and cities. If the operator reaches its stated target, its estate would grow by seven locations, or from 13 to 20, within two years. The company projects that the buildout will add more than 70 jobs, although it has not said where those roles will be based or when hiring will begin.
The planned sites could increase access to NRG’s lower-priced gym memberships in the areas it enters. But the reported monthly price range is not a single nationwide rate, and the company has not provided location-specific prices for the proposed gyms. Its expected revenue growth of over 60% is also a forecast, not a reported result. The source does not specify the revenue period or baseline used for that estimate.
For HSBC UK, the deal is another stage in a banking relationship that NRG says has supported its growth for about a decade. The facility’s revolving-credit component is intended to support individual gym builds, according to the company. The full package terms have not been published, so the extent and timing of the bank’s support beyond that portion are not clear.
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HSBC’s Earlier NRG Financing
The latest funding follows an earlier HSBC UK package in 2025, when the bank backed NRG’s acquisition of Pump Gyms Limited. Athletech News described that earlier financing as an eight-figure package. The report does not provide further terms or say how the earlier funding relates financially to the new package.
NRG founder and chief executive Shafiq Ahmed said HSBC’s support over the past decade had helped the operator more than double in size while it invested in its team and infrastructure. The current plan extends beyond adding buildings: the company has also pointed to software, site selection and member services as areas for investment, and said it is exploring further acquisition opportunities.
The source cites a recent Deloitte and EuropeActive report that put UK fitness memberships at 12.2 million in 2025. That figure provides an industry snapshot; it does not establish how many of those memberships are held by NRG customers or predict demand at the proposed sites.
““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
Site Locations and Funding Terms
NRG has named Leicester and Nottingham, but the locations of the other five gyms, their opening dates and the timetable for the full 20-site target are not yet available. The report also does not give details of the remaining funding beyond the £10 million revolving credit facility, including its duration, interest rate or repayment terms.
The company’s projected revenue increase of over 60% lacks a published baseline and detailed calculation in the source material. It is also unclear how many of the expected 70-plus jobs would be permanent positions, which roles they would cover or when they would be created. NRG has said it is exploring acquisitions, but has not identified a target or announced a transaction.
More Locations to Be Named
NRG has said it plans to announce five additional locations after Leicester and Nottingham. Those announcements should clarify where the operator intends to build and may provide a clearer picture of the expansion timetable. The company has not specified when the next sites will be revealed.
Over the next two years, the stated plan is to open seven gyms and grow the portfolio to 20 locations. Further updates may also address hiring, member-facing technology and the company’s exploration of acquisitions. No opening dates, acquisition agreements or more detailed funding terms were included in the report.
Key Questions
How much funding did NRG Gyms secure?
NRG Gyms secured an £18.7 million package from HSBC UK, reported as about $24.8 million. The company said £10 million will be available through a revolving credit facility for individual gym builds.Where will the new NRG gyms open?
NRG has identified Leicester and Nottingham. It plans to announce five more locations, but has not named them or given opening dates.How many locations does NRG plan to operate?
The operator plans to grow from 13 locations to 20 by opening seven gyms over the next two years.How many jobs could the expansion create?
NRG expects the expansion to create more than 70 jobs. The company has not provided a breakdown of roles or a hiring timetable.What does NRG plan to invest in beyond new gyms?
NRG says it plans to invest in member-facing software and technology, use data to assess future locations and develop its member ecosystem, including healthcare offerings.Source: rss
