• Swindon & Wiltshire Support
• Wednesday May 14 2025

Health business takes over old bank with help from alternative lender

A business that has opened in a former high street bank sought funding from alternative lender SWIG Finance – claiming high street banks are too slow and expensive.

Lyfe Health has taken over and renovated the former Lloyds Bank on the corner of Badminton Road and Cleeve Road in Downend, which was left empty for three years following its closure in 2021.

The centre offers a range of services including state-of-the-art diagnostics, physiotherapy and chiropractic, a Reformer Pilates studio, a rehabilitation gym and multiple therapy rooms.

Clients – which range from people in pain to elite athletes – benefit from bespoke treatment programmes based on diagnostic sessions using modern scanning technology, including gait and 3D movement analysis for more accurate diagnosis of joint and muscle problems.

An MRI scanner is being shipped over from Italy for use in diagnosing musculo-skeletal and joint issues.

As well as helping clients with dietary concerns – including IBS, Crohns and hormone deficiencies – in-house nutritionist Dr Hayley Edwards has curated a menu for the onsite coffee house and kitchen, which is available to the public as well as clients.

The business, which was referred to SWIG Finance by the West of England Local Enterprise Partnership, currently has seven employees and plans to create eight more full time jobs over the next 12 months.

Lyfe Health is an offshoot of private healthcare operator The Medical, which currently operates nine centres and relocated its Cleeve Wood Road branch when given notice by its landlord.

“We had been there 15 years, and when faced with a move, we considered replicating our Lyfe model which had been devised during the pandemic and launched in Bournemouth,” said co-founder James Arthurs.

“That needed a bigger footprint, and we made enquiries about the Lloyds Bank building, which was just down the road.

“Old banks bring a bit of character, and we were able to do cool things in the vaults, which clients love.

“And while old buildings come with challenges, the landlord was very keen to help us bring the building back to life.”

“SWIG’s approach was pragmatic and can-do. In terms of the processes – due diligence, rates – everything was doable in terms of the time, effort and cost for a company of our size, in contrast with high street banks which were extortionately expensive and took so much longer.

“I always felt they were trying to do a deal because their remit was broader than just the commercial motivation of a financial institution. It felt very safe, collaborative, honest.

“Our core values are ‘unashamedly ambitious’ for each other and anyone who walks through the door, whether a performance athlete or someone in pain because they pulled a muscle in the garden. I felt that was SWIG’s attitude too.

“As with South Gloucestershire Council, they were extremely helpful and had an honest interest in the success of the local community, while putting us through rigorous processes to make sure they were acting properly and comfortable with their investment.

“I was quietly blown away by their support – without it, we wouldn’t have been able to do this, and the building would still be derelict and under two feet of water.”

SWIG Finance business manager Nicki Kimberley said: “It was clear that the parties involved are invested in and passionate about what they do, and they worked closely with me to provide the information and assurances needed to overcome challenges.

“It’s so satisfying to be involved in a project that will have a positive effect on the high street and its community.”

Back in March, the British Business Bank said SMEs’ lack of access to finance from traditional lenders is holding back productivity and growth.