2
Mar

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Catalyst Venture Partners Advises Tangram Leisure Ltd on £2.3 million equity
fundraising for the construction of “thelifehouse” health spa
Catalyst has successfully advised Tangram Leisure on the completion of a
£2.3m equity fundraising provided by Hotbed as part of a £26 million total
fundraising to construct a 200 bed, 90 treatment room, residential health spa.
The debt was provided by Clydesdale Bank.
Richard Turner of Catalyst Venture Partners who introduced Hotbed and
advised on the deal said: “thelifehouse is an exciting new 200 bed residential
health spa. This funding from Hotbed is an important first step in creating a
major new brand in the health spa sector”.
Paul Cronk, the Chairman of Tangram Leisure, commenting on the deal said:
“We are delighted to complete the funding and are very pleased with the
advice and assistance provided by the team at Catalyst.”
‘thelifehouse’ health spa is unique in being a contemporary ‘new build’ with a
sustainable approach to design within 85 miles of the centre of London.
Alongside the usual beauty treatments and relaxation classes the holistic
approach will include ‘well person’ health screening. The spa offering will
include extensive water attractions and the latest treatment technologies.
Demand for treatments and relaxation has grown exponentially in the last five
years. This demand has led to a rapid growth in urban day spas and the
development of spa facilities in traditional hotels to increase occupancy
levels. The dedicated residential spa provides a total relaxation experience
and supply growth in this specialist sector is severely limited due to the lack of
suitable sites where appropriate planning permissions can be achieved.
There have been no recent large-scale health spas opened in the UK and
there are still only 6 ‘pure’ residential health spas with more than 65 rooms.
Tangram Leisure was founded in 2000 to develop a contemporary residential
health spa in listed gardens at the centre of a 130 acre private estate in
Essex. A small treatment studio is already operating profitably from cottages
on the estate. The innovative approach to this contemporary spa concept
emerged from the team’s extensive experience in the industry.

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