David Lloyd entering family entertainment market
Former health centre owner, David Lloyd, is planning to open a new chain of family entertainment parks.
No longer associated with the well-known chain of gyms that bears his name, Lloyd’s David Lloyd Adventure Parks is working with property investment specialist Holmes Investment Properties to launch the new venture, which will open next year.
HIP, which is listed on the Berlin bourse, has secured a £42m development loan that will act as a war chest with which to acquire and construct the sites, which will then be leased to David Lloyd’s Adventure Parks.
Chief executive of Holmes Investment, Martin Helme said: “We believe that David Lloyd is the most successful sports venue entrepreneur in Europe, and he is now concentrating on building a unique, exciting business that people will flock to.
“Holmes Investment Properties, our property division, are experts in funding and development, so it makes sense for Lloyd to leave this part of the process to us.”
Holmes is also raising initial equity of up to £6m through a private placement.
Lloyd plans to roll out three or four sites in quick succession, and hopes to have 12 open by 2021.
Each park will have 22 activities ranging from indoor soft play, trampolining, climbing walls, and a 6m-high zip wire that can travel up to 50kph.
Entry to the park will be free but visitors will pay for access to activities via smart watches, which also act as a security measure by stopping entry into an activity for someone who is too young for it.