The Gym Group, an operator of affordable fitness centres with the backing of social investor Bridges Ventures, is opening its third branch.

The Gym Group, an operator of affordable fitness centres with the backing of social investor Bridges Ventures, is opening its third branch.

The new outlet in Vauxhall is the company’s first in central London after it launched branches in Middlesex and Surrey over the past 12 months. New sites in Liverpool and Manchester are scheduled to open this autumn.

In line with the social criteria of Bridges Ventures, the majority of The Gym’s branches will be in relatively deprived areas of the UK. Membership costs £14.99 per month with no membership contract.

Bridges Ventures, whose key backers include former Apax Partners chairman Sir Ronald Cohen, 3i and Doughty Hanson, has raised more than £100 million to invest in companies targeting social or environmental benefits as well as financial returns.