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Gymnasium premises sale has property investors pumped up

Tags: Commercial

The land and building housing one of Gisborne’s busiest fitness centres and gymnasiums have been placed on the market for sale.

The purpose-built high-stud two-storey property at 67 Carnarvon Street in the central city is home to 24/7 exercise franchise Anytime Fitness Gisborne – believed to have the most memberships of any gymnasium or fitness club in the city.

Anytime Fitness has been operating out of the Carnarvon Street premises since 2016. Previously a motor vehicle tyre fitting and mechanical workshops, the building was totally modernised and repurposed to a high standard.

Its two-metre high windows running along the length of the front of the building which overlooks the customer car park, were specifically installed to let in as much natural light as possible – adding benefits from both an electricity-saving energy efficiency perspective, and for creating a positive psyche and ambience for people working out in the gym.

Anytime Fitness is currently on an eight-year lease at the Carnarvon St premises, with the lease running through to 2024 and containing five further five-year rights of renewal. The business is paying annual net rental of $65,000 plus GST per annum, rising to $70,000 plus GST per annum in 2019. All outgoings on the property are paid by the tenant.

The freehold land and building at 67 Carnarvon Street and now being marketed for sale by tender through Bayleys Gisborne, with tenders closing at 3pm on October 24. Bayleys Gisborne salesperson Colin McNab said that since opening two years ago, Anytime Fitness had built up a strong and loyal clientele. The property includes 11 car parking spaces.

The gym’s 680 square metre training facilities sits on some 1,214 square metres of freehold land, and consists of multiple spaces for simultaneous cross-fit classes, machine-sustained exercising on cycles and rowers, a free-weights area, shower and bathroom amenities for members, and a reception area.

“By the very nature of their business and physical activities undertaken by their clientele, gymnasiums and fitness centre amenities require well-ventilated and spacious floor spaces. The Anytime Fitness’s Carnarvon Street premises were designed specifically with that brief in mind – which is why the venue’s membership is now so strong,’ Mr McNab said.

“The high stud fit-out allows for constant free-flowing air movement and reticulation supported by a high-volume air conditioning system.

“The building’s steel-beam ‘cathedral’ and saw-tooth ceilings are supported on concrete block pillaring, while the flooring is a mix of hard-wearing polished concrete and parquet wood paneling.”

Mr McNab said the gym’s weights area and cross-training space were located on the ground floor, while an aerobics/yoga area of approximately 70 square metres was situated upstairs.

North American-founded Anytime Fitness is a franchise-based gym business with some 4000 locations in 30 countries, including. Canada, Mexico, Australia, New Zealand, the United Kingdom, Ireland,  Poland, Spain, the Netherlands, India,  Qatar,  Italy, Chile, Japan, Singapore, Malaysia and the Philippines.

In New Zealand, the Anytime Fitness brand has 29 locations, spread across Auckland, Tauranga, Hamilton, Rotorua, Napier, Christchurch, New Plymouth, Dunedin, Invercargill, and Gisborne.

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