H2 Bike Run seeks investors

A start-up gym and bike club for commuters is searching for investors to fund the expansion of the concept.

H2 Bike Run has been set up by property developer Piers Slater with initial finance from family and friends. He has so far invested £1.9m in the company, and has enough funds to grow to eight locations – there is just one so far. The first club opened earlier this month in Soho, central London, and others will follow in the City. H2 could open up to 12 or15 in the London area, and plans to grow nationally from its London base.

H2 Bike Run has 400 members and its target is 2,000. The club is aimed at people who get to work by cycle or by foot and need a place to leave bikes, change and have the option of gym classes, such as spinning. It has large storage facilities for bikes, with maintenance on hand, plus changing rooms and showers.

The company is in talks with office property developers over the possibility of H2 taking over the facilities within large office complexes.