A `for sale at the right price` went up over the Next Generation business this week. Next Gen’ operates 12 racquet and health/fitness clubs across the UK. UBS is analysing ` strategic options` which is a euphemism for `find us a buyer`. The chain could be worth up to £200 million, which is about £16.5 million per club.
This year, Next Gen’ opened Europe’s largest health club in Hertfordshire which totals 165,000 square feet (15,328 square metres)…imagine the inside of a squash court and then multiply this by 275. However, my sources tell me that not all is well at Europe’s largest club. I’ve never been convinced that `big means better`. The biggest health club in Europe to me suggests…impersonal, intimidating and factory-like. Give me a friendly, personal and more intimate club anytime.