Third Area’s CEO follows an 80/20 rule for consuming out, competes in triathlons at 54-years-old and has made startup investments he regrets

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Right this moment Fortune meets Colin Waggett, the CEO of London’s hottest high-end fitness center, Third Area—maybe higher referred to as the spot the place David Beckham and Prince Harry have labored out. Britain’s reply to Equinox has taken London’s luxurious fitness center market by storm.

Regardless of solely opening its first membership in 2001 and having a hefty price ticket of £220-to-£250 a month, Third Area is quickly rising a loyal fan base of millennials. That is thanks, partially, to its Instagramable interiors and lessons (hey, sizzling yoga). 

35,000+

Variety of Third Area members.

But additionally, Waggett’s intensive trade expertise: He was Health First’s CEO for over seven years earlier than launching his personal boutique fitness center, Psycle, which was acquired in 2014 for an undisclosed quantity. 

Below his helm, Third Area has quadrupled in measurement when IT involves income and membership measurement. Final 12 months, IT secured an £88.5 million money injection to assist the model scale up à la Equinox which has over 40 fancy health golf equipment throughout the pond. Though Third Area has solely simply opened its eleventh membership, IT’s already too tight a squeeze for its 35,000-plus members and several other websites at the moment are working a ready checklist. With high-end gyms significantly en vogue, Waggett’s is personally looking out for brand spanking new areas.

The funds

Fortune: What has been the perfect funding you’ve ever purchased?

My funding in Third Area. I can’t inform you how a lot – however IT is a good enterprise.

The worst?  

I’ve achieved a handful of investments in startups which have gone bust…

Third Area set inside the 23-acre Wooden Wharf district:

Do you carry a pockets?

Not since Covid. Apple Pay all the way in which.

What private Finance recommendation would you give your 20-year-old self?  

Save a bit often, however again your self. I’d relatively spend money on a enterprise I do know, perceive and am concerned in, than a fund that invests in companies I do know nothing about, paying charges to somebody I’ve by no means met.

What’s the one subscription you may’t stay with out? 

Strava – can I’ve two? And Spotify.

The place’s your go-to watch from? 

Garmin.

What’s your go-to work wardrobe?

Paul Smith, LuluLemon, Eton, Vulpine.

When you’ve got kids, what do your childcare preparations seem like? 

My children are 21 and 18, to allow them to now decide me up from the pub after I want them to.

The requirements

How do you commute to work? 

I take the practice from Winchester — IT offers a really productive hour every means of studying, writing and considering.

Save a bit often, however again your self. I’d relatively spend money on a enterprise I do know, perceive and am concerned in, than a fund that invests in companies I do know nothing about, paying charges to somebody I’ve by no means met.

How do you get your each day espresso repair?  

I really like my Sage espresso espresso machine — home made is the perfect. One among my colleagues is a complete espresso nut, so he makes positive we decide the perfect espresso retailers wherever we’re in London. The workplace favorite is Hideaway Espresso Home on Brewer Road in Soho. 

Do you’ve got lunch al desko?    

Usually, sure. We have now our personal meals enterprise referred to as Pure Health Meals, or NFF for brief, which is tremendous wholesome, macro managed, contemporary and scrumptious. My present favorite is the Scorching Smoked Salmon which has 38g of protein.

Simply received to Canary Wharf for session at Third Area fitness center… pit cease at @NaturalFitFood 💪🏼 Very spectacular! #NFF #ThirdSpace pic.twitter.com/zkwvvWENhT

— Jake Mallen (@_JMallen) October 19, 2016

How usually in every week do you dine out versus cook dinner at dwelling? 

We eat in 5 nights and eat out 2. I’m fortunate my spouse is a incredible cook dinner, and I are inclined to cook dinner one evening on the weekend. 

The treats

How do you unwind from the highest job? 

I work out so much at our golf equipment (clearly!) and trip my bike via the Hampshire countryside or via the Mountain ranges of Europe after I get the prospect. I additionally play golf and compete within the odd triathlon. And, in fact, spending time with household, associates and wine.

What’s the perfect bonus deal with you’ve purchased your self? 

I at all times want one other bike. My newest is the Pinarello F12. 

Take us on vacation with you, what’s subsequent in your trip checklist?

3 or 4 ski journeys, some downhill, some touring, and heli (off-trail, the place the skier reaches the highest of the mountain by helicopter) if I’m fortunate. All my household and associates are ski nuts. I are inclined to additionally go on a biking journey with associates to some mountains someplace. We have now a home on the North Coast of Cornwall to flee to, which backs onto dunes, the ocean and surf — I’ll get within the water day by day and stroll or run the cliff tops with the household and the canine. After which someplace fascinating or sizzling. Final 12 months IT was Sumba and Komodo in Indonesia, this 12 months Croatia. What number of is that? Not sufficient!

Right here at The Good Life you don’t need to think about what life on the high seems to be like anymore: Get real-life inspiration for a way essentially the most profitable stay life. Dive into our different ‘The Good Life’ profiles.

Fortune desires to listen to from European leaders on what their “Good Life” seems to be like. Get in contact: orianna.royle@fortune.com.