At a time when some London boutiques are under pressure financially, boutique indoor cycling operator, Psycle, has opened its fifth studio in the capital and launched a membership model, which it says is "incredibly popular".

By signing up to a membership at £95 per month, members can access five classes each calendar month – making each class £19. Memberships are for three months minimum and other packages are available for more classes up to £325/month for 25 classes (£13 per class).

An 'Under 27' membership is also available, giving a 25 per cent saving on all studio and at-home memberships.

Located in the residential neighbourhood of Eccleston Yards near major rail interchange, Victoria Station, the new Psycle Victoria features a 50-bike Ride studio and a barre and yoga space.

The studio is at 27 Eccleston Place, in a 28,900sq ft newly repurposed warehouse spanning five floors, known as the Ice Factory, with architecture by Buckley Gray Yeoman.

Originally built in 1830 for Shingleton’s Ice Company, the building has been redeveloped by property company Grosvenor, the vehicle of the Dukes of Westminster and has also housed a coachworks and motor repair centre over its near 200-year history.

In addition to the new Psycle, The Ice Factory has, contemporary workspaces, commercial space and a rooftop restaurant/bar.

Psycle will be located on the ground floor.

The studio will be powered by renewable energy and Psycle will support Grosvenor in achieving its sustainability commitments by sharing energy consumption data and collaborating to improve the building's environmental performance.

According to David Watt, Psycle CEO, the Victoria opening is part of a strategy to further increase the brand’s presence in the capital.

“Our goal has always been to provide customers with London's best fitness classes in a welcoming and inclusive space where they can create meaningful experiences and connect with others," he said.

“Psycle is about holistic wellbeing, prioritising both psychological and mental wellbeing.

"The studio has been designed with this in mind and the softer, more nourishing 'look and feel' reflects the Psycle ethos and elevates the experience, from the moment members check in through to leaving post-class.”

Watt added that Psycle is looking to add further new studios to its portfolio, which currently includes sites in Clapham, Notting Hill, Shoreditch and Oxford Circus.

The latter is the company's flagship, four-storey studio, which is home to all five of Psycle’s workout concepts; Ride, Barre, HIIT, Reformer and Yoga.