New owner vows to strengthen appeal of a Peterborough gym
An enterprising fitness enthusiast is building up a Peterborough gym with the help of a leading bank.
Steve Hoffmann has just completed the purchase and refurbishment of the 30-year-old Fengate Gym, in Fengate, after securing a six-figure commercial mortgage from HSBC.
Mr Hoffmann, who has been in the health and fitness industry for more than 15 years previously worked as a fitness coach at the Thomas Deacon Academy, was approached by the previous owner to buy the business.
He said: “The gym has been here for over 30 years and the previous owner was keen to sell the business to someone who would continue to run it as a gym.
“In its heyday the business used to boast 450 members, which is amazing for an independent gym.”
Mr Hoffmann, who has been a regular at the gym for 26 years, has fully refurbished the whole facility, making better use of the space and ensuring the gym has a wider appeal.
The revamp has meant knocking through walls to achieve an open plan space suitable for group exercise, refurbishing both male and female changing rooms and investing in new equipment.
An office has been converted into a supplement shop offering a range of supplements as well as nutritionally balanced meals.
The premises are surrounded by 550 businesses which it is hoped will provide more local users.
Mr Hoffmann added: “HSBC’s commercial mortgage has enabled me to modernise the gym and refresh the facilities.
“The gym is blessed with six trainers who are on hand throughout the week to offer fitness and nutritional advice.
“Since November, we’ve doubled membership, and with further investment planned to update the equipment, we hope to continue to grow our membership base.”
Steve Evans, HSBC’s area director in Mid-Lincolnshire and the Fens, said: “Steve is passionate about health and fitness and with this new investment, he will be able to provide a high quality facility for customers for many years to come.
“HSBC is actively supporting businesses such as Fengate Gym with funding and advice and it’s great to now see the facility being used and enjoyed by so many members of the local community.”