Celebrity-studded gym chain Third Space bought by investment firm Encore

The Third Space – a premium London health club chain which reportedly counts Prince Harry and Guy Ritchie among its members – has been bought by the same group which owns the capital’s mammoth Reebok Sports Club.

Private investment firm Encore Capital has acquired the two-club chain for an undisclosed fee, fuelling speculation that the group will target further upmarket clubs around London. Encore bought the chain from investment firm Graphite, which has controlled The Third Space since buying it from founder Joel Cadbury in 2007.

With sites in Soho (40,000 sq ft) and Marylebone (15,000 sq ft), The Third Space boasts 5,000 members, offering services including high altitude training chambers and nutritional advice as part of its £139 per month membership package. In addition to its famous members, rugby player James Haskell and former England football captain John Terry are said to have visited Third Space’s facilities for physiotherapy.

Encore partner Shirin Gandhi said: “As part of our strategy to establish a London-centric leading luxury health club group, we are thrilled to have acquired The Third Space – a fantastic brand with clubs in highly desirable locations.”