The gym secured an asset of community value status from Wandsworth Council this year, meaning the community would have six months to submit its own bid to buy the venue if Places for London decided to sell.<\/p>\n
Although the victory highlighted the gym’s importance in the local community, Quinn said it is still battling the proposed rent increase, adding that the base rent on which the increase would be applied is already unaffordable for independent businesses. <\/p>\n
The gym’s website adds: “Many current members have family connections to the gym stretching back decades.<\/p>\n
“Preserving this space means preserving a living piece of local heritage, not as a museum, but as a working, active community asset that continues to serve the public.”<\/p>\n
A Places for London spokesperson said: “We hugely value the contribution made by small and medium size businesses on our estate. They are an important part of London’s stations, streets and more, and our tenants, such as Physical Culture, make a positive difference to our customers and their communities<\/p>\n
“Our aim is to make sure we provide high-quality spaces for businesses at a reasonable market rate. We have proposed a rent increase of only RPI+1 per cent for Physical Culture. We know that there [are] many challenges facing small and medium businesses across London, and we have met with the team at Physical Culture and offered to find ways to support them and their businesses.<\/p>\n
“We recognise Physical Culture’s history and contributions, and are working closely with them and the Greater London Authority to ensure it continues to be financially viable and ensure the gym can continue to run for many years to come.”<\/p>\n
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