The first of a new chain of budget health clubs, offering a flat rate membership of £14.99 per month and no contract, has opened in Hounslow, West London. The club is owned by The Gym Group (TGG) and pre-sold 5000 monthly memberships online prior to opening.

TGG is headed by John Treharne - former boss of Dragons Health Clubs - and is supported by Bridges Community Ventures (BCV) which has invested £1m in the project. The online membership sales are managed by Harlands Group's through its 'Snap' direct debit system.

Services at the 'no-frills', 15,000 sq ft club, include 160-station gym supplied by Cybex, spinning classes, a VR circuit as well as an online exercise programme. The club is open 24 hours a day and seven days a week.

BVC, a venture capital company, invested in The Gym as part of its social mission to support facilities in under privileged areas in the UK and to enable large portions of the local community to enjoy the benefits of a low cost gym membership.

Anne-Marie Harris, assistant director at BCV, said: "We are extremely excited by this investment. About 12 per cent of the UK population are members of a gym but research indicates this figure could increase significantly if high membership fees were not so restrictive.

"The Gym offers a logical solution to the problem. With plans for expanding the business in the near future, we are confident that the investment will offer a good return for investors as well as delivering on our social impact goals."

The Gym is located inside the Blenheim Centre, a £220m mixed-use, retail and leisure development.

“Our membership system is unlike virtually every other health club – incredibly simple, one category, one price. It also means that by joining one club, you join them all," said TGG CEO John Treharne.