Greenwich Leisure (GLL), Jubilee Hall Trust and Colombo Street Sports Centre Trust are to jointly open a new fitness facility at the Colombo Centre in Southwark, London, this month.

The £650,000 gym will boast 90 stations, supplied by Life Fitness.

Memberships will be available from £19.95 per month and customers will be able to join online.

Phil Rumbelow, chief executive of Jubilee Hall Trust, said: "This exciting new project at the Colombo Centre is an excellent example of how not-for-profit organisations can work together to create greater value for local people.

"The refurbished centre will have a new and very well-equipped gym with upgraded changing facilities. These will be made available at an incredibly low price, thus enabling access for all sections of the community. Importantly, the new gym will be incorporated into the centre without significantly impacting on the other existing programmes we provide; such as those for the over 60s and for children and young people."

Chris Symons, GLL director, added: "We are delighted to be involved in this significant refurbishment project which should breathe new life into an important community facility.

"We are confident that visitors to the centre will enjoy 'gym LONDON' - our new, low cost pricing model that has been designed to make fitness facilities accessible to all during these difficult economic times."