The opportunity to acquire Next Gen Doncaster – a purpose-built health, wellness and lifestyle club – is expected to attract significant investor interest.
Underpinned by a triple net lease to Next Generation Clubs Australia, a well-established and market-leading operator since 1999 with six locations in Australia and New Zealand, the asset offers a secured investment opportunity.
CBRE’s Sam Guest, Jamie Hess, James Douglas and JJ Heng have been exclusively appointed by Next Generation Clubs Australia to manage the sale of the asset via an International Expressions of Interest Campaign.
Mr Guest noted this exceptional opportunity offers a unique chance to acquire an asset within a thriving segment of the Australian market and capitalise on the increasing demand for health and wellness clubs, particularly those in the high-end sector, which have seen significant growth since the COVID-19 pandemic.
“Next Gen Doncaster is truly an asset in its own class. Located in the highly desirable and affluent residential area of Doncaster, the club caters to a discerning clientele,” Mr Guest said.
“An offering such as this is akin to a Soho House, Saint Haven or a Kooyong Lawn Tennis Club as it gives an all-encompassing experience. This isn’t just a gym, it is a lifestyle club offering its almost 4,000 members a holistic approach to wellness that in recent years has become a cornerstone of the Australian way of life,” Mr Guest added.
Located at 21 Members Drive the asset is situated on a substantial 10,950 sqm allotment with 3,610 sqm of GLA excluding the outdoor facilities.
Completed in 2021, Next Gen Doncaster was meticulously designed for the modern health and wellness enthusiast and features state-of-the-art facilities including four tennis courts, restaurant, fully equipped gym, one indoor pool and one outdoor pool, luxurious spa, sauna, steam room, ice baths, and a creche.
The asset is leased at $1.6 million per annum for an initial 15-year term, with two further optional terms of 10 years each.
“Next Gen’s strategic decision to acquire and purpose-build the Doncaster club, coupled with Australia’s growing demand for premium fitness and lifestyle facilities, speaks volumes about their commitment to the site. This paired with the rare triple net lease and tenure provides for long-term security, further strengthening this investment opportunity,” Mr Hess added.
The International Expressions of Interest closes Friday the 19th of September at 12.30pm (AEST).Â
*All measurements are approximate.
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