19 Dec £2.3M injection of funding to rejuvenate Suffolk health club and spa
An East Anglian-based operator of health clubs and day spas has upgraded its facilities and doubled its capacity, thanks to a £2.3m funding package from Lloyds Bank.
Mosaic Group, operator of 15 health clubs and day spas across England, is upgrading its Riverhills site in Ipswich after purchasing the property in June 2021. The luxurious refurbishment programme that has introduced a mud serail chamber and an outdoor relaxation area with fire pits to enhance guests’ spa experience.
In addition to these new facilities, the existing reception and café bar area has been revamped to improve the arrival experience, and provides members and day guests with a lavish setting for afternoon tea or an artisan coffee and pastry.
The enhancements have also benefitted the increasing number of members who enjoy working remotely from the Club, combining their work day with their exercise programme. The business now has more than 2,100 members, which is above pre-pandemic levels and is the highest it has been since Mosaic acquired the club.
Plans are also in pipeline to roll out further expansions and improvements at two of the Group’s other sites, Holmer Park in Hereford and The Shrewsbury Club in Shrewsbury. For the latter, which has more than 5,500 members, Mosaic already has plans in place to deliver an additional swimming pool and develop a new 150-room hotel. The group believes that this investment will make it more resilient to cope with the current economic recession and the energy crisis, which is set to increase costs by over £300,000 across the group.
Dave Courteen, managing director at Mosaic Group, said: “The pandemic reinforced the value of health clubs, both for physical and mental health. As we move on from the last two years, our members’ needs have also changed. We’re increasingly seeing members spend the day with us to relax, get fit, and also work. Our members are at the heart of our business, and we want to make sure we are providing what they need, want and desire – this is why Riverhills has had such an extensive refurbishment.
“The support from Lloyds Bank in financing the improvements has been invaluable, and the immediate success of the revamp has made us more confident that we can not only survive the current economic storms but actually take Mosaic to the next level.”
Michael Adams, relationship manager at Lloyds Bank, said: “There’s no doubt that the world around us has changed significantly, and it’s the flexibility to change and adapt to it that will drive businesses’ success over the next 12 months. Mosiac Group is a great example of a firm that’s identified where it can grow, what its members want and how to meet those needs. Its recent growth is testament to Dave and the team’s ambition.
“We always remain by the side of firms, supporting them with the advice, guidance and solutions they need to make these sorts of ambitions possible, and I look forward to see seeing how the business will continue to make its business even healthier.”
