Third Space will open in the heart of London's Oxford Street in 2027

After four launches last year, Third Space is keeping up the pace of expansion with a new signing on London’s Oxford Street, as well as taking keys for The Whiteley.

The premium operator, which has a collection of 13 clubs in the capital, is keeping up a steady rate of expansion, backed by KSL.

The latest site to be announced is the Elephant Building on Oxford Street that was previously home to House of Fraser. The iconic Art Deco building is currently undergoing a £132 million revamp to become a 250,000sq ft mixed-use development with office space, retail and a rooftop restaurant with 360 degree views. It is being built to the highest standards: BREEAM Excellent, WELL Gold, SCORS A+ and WiredScore Gold certifications.

Third Space will deliver the largest health club in the West End, offering 30,000sq ft of its high-end offering: expansive gym floor, wet spa and dedicated studios hosting more than 200 classes per week.

Landlord, Publica Properties, is set to hand over in mid-2026, with the opening of Third Space slated for 2027.

Third Space CEO, Colin Waggett, says: “The space and proportions of the building, along with the vision of Publica Properties demonstrated through this redevelopment, creates a stunning venue for a new Third Space in the heart of the West End.

“We will be bringing the latest edition of our fitness and wellness offering to Elephant, serving the building occupiers and the neighbouring community, as this is part of the ongoing transformation of this part of London.”

Waggett told HCM this site was appealing for a number of reasons: “Oxford Street, west of Oxford Circus, is being dramatically re-positioned with multiple large office developments including the former House of Fraser and Debenhams, which will increase the density of what is already a great catchment.

“The space itself is great – huge ceiling heights, lots of natural light and period features. So all in all the chance to create a great club within an established catchment that is getting better.

Third Space has also just taken the keys for The Whiteley: another iconic former department store being transformed into a mixed-use development at an investment of £1 billion. The club – which will open late this year, or early 2026 – will span 34,000 square feet across three floors and will be adjacent to the new Six Senses Whiteley.

The Mayfair extension – which has doubled the training space – will launch in early April.

In 2024, Third Space launched four sites: Clapham Junction another which took space in a former department store, as well as Wood Wharf, Battersea Power Station and Richmond.

Speaking in HCM a year ago, Third Space CEO, Colin Waggett, says now is a gold opportunity for the sector to find new sites: “Historical competitors for space at ground floor and basement levels, such as large format retail and casual dining restaurants are shedding space and more office space is being repurposed. More than ever before landlords need us to take space and provide an amenity for the rest of their building or development.”

You can hear Colin Waggett discussing strategy and tactics at the HCM Summit 2024 by clicking here.