Gyms get into shape as $3 billion fitness industry set for future growth in the 2020s

With increasing numbers of people embracing a fit and healthy lifestyle, Australia’s fitness industry is booming and local gyms are securing bigger premises to cater for the future growth.

Local gyms are flexing up and securing bigger premises to cater for future growth of the fitness industry in the 2020s.

WITH the dawn of what is being dubbed the decade of wellness, some of Brisbane’s most popular gyms have been getting into shape.

In the lead-up to the peak post-holiday workout season, two local gyms have secured new premises to cater for the expected future growth in Australia’s $3 billion fitness industry.

Overall, the industry is expected to keep growing over the next five years with research firm IBISWorld estimating revenue to increase at an annualised 3.8 per cent.

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Studio 99 and Olympia Body Transformation Sanctuary have both made the move to bigger facilities after signing leasing deals in West End and Brisbane CBD, respectively.

“We just needed the extra space,” said Studio 99’s Blake McClennan. “People are a lot more health conscious than they used to be 10 to 15 years ago when we first started in the industry.”

Studio 99’s Tim Douge and Blake McClennan get set for a new decade of wellness. Picture: AAP/John Gass

Studio 99 has taken 950sq m at 387 Montague Rd, West End.

New co-owner Tim Douge said inner-city residential development had led to increased gym membership, particularly from middle-aged downsizers.

“A lot of them have actually never been to a gym in their life and they realise they need to get on top of their health,” he said.

“They come in and try out things with one-on-one personal training sessions and then when they feel a bit more comfortable progress to group classes.”

Olympia Body Transformation Sanctuary has taken a 10-year lease for 696sq m over two levels at 144 Edward St in the CBD. Industry sources said it would fetch $600-$620/sq m gross.

Simon Petrie of Colliers International, who negotiated the leasing deal for Olympia Body Transformation Sanctuary at 144 Edward St, Brisbane. Picture: AAP/Richard Gosling

The gym owned by Greg and Cleo Evangelou, has almost tripled in size.

“We have an established client base in the CBD and were looking for a bigger space in the same precinct based on the growth of the business in the last 24 months,” Mr Evangelou said.

Simon Petrie of Colliers International, who struck the deal, said the quality of the building, corner location, ground floor access and street level signage and branding exposure were big drawcards for selecting the site.

“The impressive $1.5 million fit-out that the owners have invested in truly takes this fitness club to a new level,” he said.