A deal has been agreed that will see an unnamed local private investor buy out Downing VCT, a London-based venture capital business which was previously the part-owner of Mosaic Spa & Health Clubs group, which owns The Shrewsbury Club.
Now the club's facilities are to be upgraded, including extending the swimming pool to include a chill-out zone and vitality pool, a refurbishment of its changing rooms, and increasing the size of the gym to incorporate some new fitness equipment. There will also be a new-look cafe bar.
A soft play area for younger children next to a lounge for parents, and a zone for teenagers complete with table tennis, will also be created. The club’s management believe that offering facilities for all ages will attract more families to take up memberships. Work is expected to start later this summer.
The club, on Sundorne Road, will still be operated by Mosaic, and all of the 60 plus staff will remain with the company.
Managing director Dave Courteen, who has also personally invested in the deal, said he was "delighted" to have secured the support of a local investor for the club.
He said the work was positive news at a challenging time for the health and fitness industry, both locally and nationally, adding that it would would help secure jobs and the club’s future.
Mr Courteen said: “I’ve loved being part of Shrewsbury over the last six years. It’s a wonderful place and the Mosaic team have really enjoyed getting The Shrewsbury Club back on its feet, reaching out into the community and being a part of Shrewsbury life.
“We recognise that we needed more investment to take the club to the next level and we believe the club, with all the enhanced facilities, is well positioned to look after the diverse needs of all of our members.
“We believe that in these days of Xboxes, smart phones and play stations, it is really important that children have the opportunity to appreciate the many benefits of an active lifestyle.
"With our wide range of programmes, classes and facilities, we are in a unique position to be able to offer families the chance to be active together within one club.
“It’s also really exciting to be able to partner with a local investor who shares our passion for Shrewsbury and Shropshire, whilst also having the same drive in wanting to develop a high quality, luxurious and friendly health club.”
He added: “Over the last five years we have spent £1 million in developing the infrastructure of the club with initiatives such as our renewable energy biomass boiler and solar panels.
"We are now looking forward to investing another £1 million that will be spent in a much more obvious and tangible way, enhancing the quality and range of facilities that members can enjoy."
Mosaic have owned The Shrewsbury Club, which also hosts two prestigious international tennis tournaments each year, since 2011.