London’s Climbing Gyms: From Boom to Bottleneck
Not long ago, London’s indoor climbing industry seemed unstoppable. New centres sprouted across the city, each sleeker than the last, catering to a swelling population of chalk-dusted millennials and professionals with money to spare. Investors took note, acquisitions gathered pace, and operators scrambled to stake their patch of the capital.
For a time, London was the beating heart of Europe’s climbing boom. While Paris, Berlin and Barcelona also saw rapid growth, nowhere else combined such density of gyms with such diversity of operators. Climbing shifted from a niche subculture to a mainstream urban pastime.
A few years on, the mood is more subdued. Growth has slowed, competition is fierce, and the market is flirting with overbuild. Margins are slim and closures, once unthinkable, are starting to appear.
The Boom Years
Between 2015 and 2022, London saw an unprecedented wave of expansion. Chains such as The Font entered with slickly branded gyms in Wandsworth and Borough, promising a blend of climbing, coffee and craft beer. Longstanding players like London Climbing Centres (LCC) expanded rapidly, opening eight sites in less than a decade.
At the same time, smaller independents carved out niches in local neighbourhoods: gyms like Rise Climbing in east London and BlocFit in Brixton cultivated loyal followings through community-led programming. For customers, it was a golden age: more walls than ever, more variety, more choice.
But as Jon Partridge, who recently oversaw the sale of Hang to The Font, points out, the proliferation of gyms had its limits. “One of the biggest structural challenges is that London, in some areas, is now oversaturated. Openings have outpaced demand in certain postcodes, and we’re seeing walls compete more directly than ever. That’s not necessarily bad; competition can drive innovation, but it does mean that single-site operators face a steeper climb.” he says.
The Post-Covid Plateau
Like many leisure industries, climbing enjoyed a surge of popularity as pandemic restrictions eased. Participation spiked, memberships swelled, and gyms were packed with new faces. But the tide has since receded. The growth of new climbers has slowed, and the same customers now rotate between multiple venues.
That flat demand, combined with rising supply, has created the sharpest pressure the London market has yet faced. “I don’t believe more gyms create more climbers,” says Dave Culver of BlocFit. “I think more gyms dilute a very niche sport.”
Margins Under Pressure
If climbing gyms were once thought to be a licence to print money, that view has long faded. Tom Hull, Managing Director of LCC, is candid about the financial strain: “We did make a profit last year in London with an after-tax margin of 4%, which has all been reinvested in centres. This year it will be less, with higher business rates, rent, salaries and employer’s NI to name but a few pressures - making continued reinvestment ever more challenging.”
To keep its model viable, LCC relies on a mix of premium pricing at peak hours and discounts such as its weekly “Magic Time” entry at £7.50. “We believe we offer some of the best value climbing in London,” Hull insists. But he concedes that not many walls are breaking even at present, and expects further closures or consolidation ahead.
Culver agrees, but goes further. “London is saturated and the big commercial gyms have made it impossible for independents to grow and flourish. What I’ve seen is the rise of over-inflated grades, leisure-centre facilities and kids’ parties. Gyms that used to be about skill and fitness now feel more like JP Morgan after-work socials. I don’t believe the best gyms will survive — the best business models will.”
Consolidation and Capital
That view is echoed by James Skinner, co-owner of Rise Climbing, who observes that the London market has entered a phase of mergers and acquisitions. Private equity interest, while still tentative, is creeping in. Hull acknowledges this trend, though with caution: “We are often approached by centres looking to sell up. We don’t want any centres to close, but our focus is diversifying outside London rather than adding more here. What worries me is that private equity could dilute the community values climbing has always cherished.”
For operators, the calculation is stark: either find efficiencies at scale, or cultivate a loyal niche audience. The middle ground looks precarious. Skinner is frank: “I still hold hope that climbers who value authenticity will seek out different spaces — places that prioritise soul over scale.”
The Customer View
If operators are grappling with margins and mergers, customers see a different set of challenges. Callum Taylor, founder of Euro Climbing News and a regular across multiple London gyms, identifies three priorities:
Customer service: “I regularly refer back to the teachings of 'The Retention Guru' Dr Paul Bedford in that simple, friendly interactions make a world of difference. Offer someone a hot drink at check-in or highlight a new bloc to try — it isn’t difficult. But in my experience, only about 70% of visits clear the bar. With competition so stiff, this has to improve.”
Cultivating a vibe: “Climbing gyms should feel welcoming. That means clean spaces, decent music and a comfortable place to be. Nobody wants to sit on a bench in a dentist’s office listening to elevator music, nor in a basement blasting Blink-182. A good vibe doesn’t happen by accident.”
Setting and grading: “There’s a risk of a race to the bottom where climbs are dumbed down into jug ladders. Climbers want a challenge, and gyms need to provide it. Otherwise, customers are in for a nasty shock when they venture elsewhere.”
What Comes Next
London’s climbing boom has created a crowded, vibrant scene unlike anywhere else in Europe. Yet the sector now faces a test of resilience. With flat footfall, rising costs and an oversupply of walls, survival will depend less on expansion than on service, community and the careful cultivation of climbers themselves.
Some predict a wave of closures and acquisitions, leaving just a handful of corporate names across the city. Others believe new, more authentic climbing spaces will emerge — smaller, less glossy, more focused on community than a packed events calendar.
“If all climbing companies can create more climbers, we will all be more secure,” says Hull. But as Culver warns, if the industry drifts towards homogeneity, it risks becoming sterile. What comes next will depend not just on balance sheets, but on how London’s climbers choose to spend their time.
For now, one lesson is clear: building the walls was the easy part. Keeping them full will be harder.
Editor’s note: We also reached out to Yonder, Mile End, Castle, Nest, Arch/Stronghold and City Bouldering but did not receive a response.
