Local investor pays $7 million for Hindmarsh fitness centre

A local private investor has purchased a fitness centre in Adelaide's inner suburb of Hindmarsh for about $7 million.

The 233 Port Road centre was purchased from Bantry Developments and Aretzis Properties on a net yield of 8.6%. The property is currently leased to Goodlife Operations Pty Ltd - a subsidiary of Ardent Leisure Ltd - under a 15 year lease.

Constructed in 2008, the 2,223 square metre centre was sold through selling agent Lukas Weeks of Jones Lang LaSalle.

Mr Weeks commented that the property was sold two weeks prior to the close of expressions of interest.

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