The End of an Era.

The world’s first YMCA, located in central London, has been acquired by Criterion Capital. Scheduled to close on 7 February, this iconic venue will cease operations after decades of serving as central London’s largest gym. The YMCA on Great Russell Street boasts impressive facilities, including a 25m swimming pool with a sauna and steam room, six exercise studios, a cycling studio, and over 125 weekly classes. While the Great Russell Street site is closing, Central YMCA will continue to operate at its other locations in Moorgate and King’s Cross.

Why the Sale?
Central YMCA initiated the sale in response to declining membership, rising operational costs, and increased competition. The club cited challenges like demographic changes, the age of the building, and soaring maintenance expenses, which could no longer be offset by membership fees. A spokesperson for YMCA Central stated that the sale will enable reinvestment into other gyms and more sustainable health and wellbeing services.

Community Backlash and a Campaign to Save the YMCA

A Petition Gathers Momentum
The closure announcement on 2 December sparked widespread shock and a growing campaign to save the historic club. Over 2,000 people have signed a petition urging the reversal of the decision, and a dedicated campaign website has been launched. The community is rallying to preserve the club, which has served as a cornerstone for fitness and social engagement in central London for decades.

Preserving History Amid Change
The YMCA building, originally opened in 1911 and rebuilt in 1977 in a Brutalist architectural style, has a storied past. It once served as a World War II shelter and later became a hub for fitness, housing residential towers, a public library, restaurants, and recreational facilities. Criterion Capital has pledged to work with local organisations, including the Bloomsbury Residents’ Action Group and Camden Council, to safeguard the building’s legacy while reimagining its future.

Criterion Capital’s Vision and Recent Acquisitions

An Expanding Portfolio
This acquisition is the latest in Criterion Capital’s buying spree. Recent purchases include properties in London’s One Princes Street and Edinburgh’s Princes Street, as part of efforts to expand the company’s Zedwell hotel portfolio. The YMCA site adds another landmark to its growing collection.

A Shared Vision for the Future
Omar Aziz of Criterion Capital emphasised the importance of balancing preservation with modernisation, stating:
“This acquisition is a partnership founded on trust and mutual respect… Our shared vision with Central YMCA is to transform this historic site into an economically viable and vibrant space, ensuring it meets the needs of future generations.”

What’s Next for the Site?

Potential for Transformation
Speculation surrounds the future of the entire city block, which includes the YMCA, St Giles Hotel, and Criterion’s proposed underground hotel. Could this space evolve into a single expansive hotel complex, or will Criterion develop a mixed-use destination? As the YMCA’s closure looms, community efforts and Criterion’s redevelopment plans promise to shape the next chapter of this iconic site.