Iconic City Gym building to be auctioned
Iconic inner-city commercial properties that have hosted some of the world’s entertainment heavyweights including Ernie, The Rock and Hugh Jackman are for sale.
The iconic inner-city commercial property that has hosted many global superstars is set to go up for auction next month, a year after undergoing a $1.5 million renovation.
The building that houses the famous City Gym at 107-113 Crown St Darlinghurst will be sold on November 15th.
The gym itself, whose owner has an existing lease through 2026, will continue to operate without interruption.
Arnold Schwarzenegger and City Gym founder Billy Moore.
The ‘Gay Gym’, which began operating as ‘Gay Gym’ in 1978, the same year that Sydney’s first gay and lesbian Mardi Gras parade was held, remained a trainer and equal rights advocate until his death in 2014. It was run by its advocate, Billy Moore.
It has hosted some of the world’s biggest names in entertainment and gym addiction, including Arnold Schwarzenegger, Dwayne ‘The Rock’ Johnson, Hulk Hogan, Hugh Jackman and Jane Fonda.
Hulk Hogan works out at City Gym during a media call in Sydney, Tuesday, November 17, 2009.
City Gym founder Billy Moore and American actress Jane Fonda.
The gym underwent a $1.5 million renovation in 2019.
After Moore’s death, City Gym changed management to Billy Kokkinis. Billy Kokkinis wanted to transform the facility from a “conventional” fitness center into a “one-stop-shop” for fitness.
the gym itself sold early last year.
The building is spread over three floors. The refurbished gym features a weight training zone with refurbished machines, a spacious cardio theater, boxing ring, and a mind-body studio for yoga, Pilates, and meditation.
more:
Muriel’s wedding-style terrace for sale
Termites – why Sydney homes are most at risk right now
Registered historic building after famous ‘poet-inspired’ restoration
A view of the boxing arena.
Commercial services also include the extent to transforming the facility into a high-quality, mixed-use building, freeing up a footprint of 768.8 square meters with the added potential for more floor space.
The current tenant, listed by Mercer Property co-founder Tom Speakman, has a lease that expires in August 2026, giving the buyer the option to continue the income stream or plan for the future. You can choose to earn income while considering.
“Despite the easing of lockdowns and social distancing measures, we have found that more city-based businesses are looking for bespoke office space throughout buildings as an alternative to shared facilities. says Speakman.
The current tenant has a lease that expires in August 2026.
“Since the pandemic, we have witnessed a flight to quality, which has resulted in increased demand for luxury office stock in Darlinghurst and Surry Hills.
“This Crown Street property offers potential buyers an excellent template for creating a tailored environment for their business or a lucrative investment opportunity.”
107-113 Crown St features a 24m frontage just off the intersection of Crown and William Streets, 500m from the Museum Rail Station, 800m from King’s Cross and Town Hall Stations and 1km from the CBD I have.
The property offers 24m street frontage.
Hugh Jackman is another superstar who goes to City Gym.
Likewise, Dwayne “The Rock” Johnson.
Speakman said the CBD fringe is one of the most popular markets in the country for investors and tenants, with recent commercial buyers including Sony Music Entertainment and Dovetail.
“We think Darlinghurst’s East Sydney Pocket is one of the most exciting neighborhoods on the edge of the city. Combined with the project, this established district continues to gain momentum year after year.”
Darlinghurst Gym is less than a kilometer from Museum, King’s Cross and Town Hall stations.
Buyers have the option to convert the property into a mixed-use building with the potential to unlock additional floor space.
“This is a great location, very close to the CBD and Darlinghurst’s extraordinary creative scene. Then you are minutes away from being in the heart of Paddington’s arts and fashion High Street or the cool culinary district of Surry Hills.”
The auction will be held at AuctionWorks, Mezzanine Level, 50 Margaret Street, Sydney.
more: Investors provided a nationwide dental portfolio
Iconic City Gym building to be auctioned
Source link Iconic City Gym building to be auctioned
