AusLeisure

New ownership of a large-format retail centre in Wagga Wagga will see the site expanded to include what will be Australia's largest Planet Fitness location.

A new investment fund established by Kaipara Property Group and Argus Property Partners Group acquired the retail centre on the corner of Hammond Avenue and Kooringal Road in Wagga Wagga from ASX-listed fund manager Home Consortium.

The four-hectare site will soon welcome the Planet Fitness gym alongside existing tennants Spotlight, Anaconda and PETstock.

To accommodate the gym, a wall between a former shop space and a bulk goods warehouse has been knocked down.

The gym will include a circuit training room and a functional training room with around 10 group classes per day.

In the USA, Planet Fitness has signed an agreement to acquire Sunshine Fitness Growth Holdings, a Planet Fitness franchisee with 114 locations in the south eastern states in a transaction valued at US$800 million.

As a result of the acquisition, Planet Fitness will own more than 200 corporate locations in the USA

Planet Fitness currently operates 2,254 locations in the USA, Puerto Rico, Canada, Panama, Mexico and Australia.

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