The latest venture from former Braemar Estates boss Marc Duschenes, opens on Monday – cycling studios in three converted railway arches behind Manchester's Spinningfields.
Duschenes owns Spin Factory outright and tested the concept with an outlet near Manchester Airport which opened in January 2015 aimed at Cheshire cycling enthusiasts.
Altrincham-based Duschenes declined to say how much money he had invested in Spin Factory. The spinning classes are run on a pay-as-you-go model with no need for membership.
The studios are located opposite Salford Central train station on New Bailey Street. Spin Factory has recruited 20 teachers, known as spinners, to run the training sessions.
Classes can be booked online or through an app and the studios have a capacity of 1,000 rides a week.
Duschenes left Braemar Estates, based in Hale, Trafford, in 2011 through a management buyout of 10 investment funds from Braemar's parent Brooks Macdonald. Duschenes now runs 11 funds under the Bayfield Capital brand.
He went on to invest in Yogberries, a frozen yoghurt business, but has since sold his stake.