Mayfair is known as one of the most expensive and affluent districts in London. However, it is also the most densely populated area for gyms in Britain’s capital, according to research by luxury estate agent Wetherell, conducted by research consultants Dataloft.
The data, seen by Yahoo Finance UK, showed that Mayfair and St James has 30 gyms in the area, compared to just five in Westminster/Victoria, nine in Covent Garden, three in Bloomsbury, eight in Farringdon, six in Shoreditch, five in Aldgate, nine in Southwark, and four in Docklands.
Only the City of London office district is the other location to rival Mayfair for health clubs, according to a separate report by Colliers International 2017.
Peter Wetherell, CEO of Wetherell, said that the research gives insight in the changing demographics of lucrative areas in the property market and “how the area population may develop over the coming years.”
“As those aged 25-44 are set to dominate the market, it can be expected to see an increase in demand for access to state-of-the-art fitness facilities for both rental and sales agreements. Equally, older high-net-worth-individuals are increasingly willing to invest in their health, with luxury developments and private homes also catering to a new level of fitness amenities desired,” he added.
Mayfair has more gyms/health clubs than any other central London residential district; 60% are regular gym users; a wave of new homes are being built with private gyms and pools, and by 2021 almost 50% of residents will be aged between 25 and 44.
In Mayfair, 44% of those aged 64+ are owner-occupiers, with 83% of owner-occupiers owning their property outright, says Wetherell. Generation X, those born 1965-1979, account for 12% of Mayfair households, with 45% of them employed in financial, real estate and professional services sectors.
Baby Boomers, those born 1946-1964, account for a fifth of the Mayfair population and are also “characterised by having high levels of disposable wealth, with significantly high owner-occupier levels,” said Wetherell.
However, the younger generations are still predominantly renting — and at a premium. Some 55% of households in Mayfair are singles, of which 68% of single person households privately rent. Some apartments, such as a four bedroom one on the market on Park Lane at the moment is available to rent for £11,500 per week complete with its own gym and sauna facilities, located just yards from Hyde Park for further outdoor fitness space.