‘Deep sadness’: Bondi Fitness First to close after 20 years
Written by admin on October 7, 2024
A popular Fitness First in Sydney will close after 20 years after the chain failed to secure a tenancy with Westfield, with the gym saying it is “disappointed” with the decision.
Members were informed by email last week that the Bondi Platinum location on level six of Bondi Junction Westfield would close later this year.
“Unfortunately, after 20 years of dedicated service to the community, it’s with deep sadness that we write to inform you of the impending closure of our Fitness First Platinum Gym, at Westfield Bondi Junction later this year,” the email said.
“We were hopeful of securing a new location within the centre to build a new premium fitness facility, however, we were disappointed to learn late last week that we were unsuccessful in our tender bid.”
Fitness First said it was still in negotiations with Westfield on a timeline for the closure, and members would be contacted once dates were confirmed, Yahoo reported.
There is another Fitness First Platinum just around the corner on Spring Street, much smaller than the Westfield location.
“Please be assured that we are providing all the necessary support to our team during this difficult period,” the email said.
The chain currently has 37 gyms in Sydney, 12 in Melbourne and two in Canberra.
Fitness First and Scentre Group have been contacted for comment.
Australia’s fitness industry has been hit hard in recent years with a wave of closures due to Covid lockdowns and the cost-of-living crisis.
The troubled F45 empire has been the biggest casualty, with scores of franchises going under in the past three years.
And in December, mixed martial arts gym franchise UFC Gym collapsed into administration with debts of $15.6 million.
Annual revenue for gyms and fitness centres in Australia fell by 9.2 per cent over the five years to 2024 to $2.2 billion, according to IBISWorld.
“The effects of the pandemic were calamitous for industry performance,” the market research firm says.
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“Gyms and fitness centres were consistently expanding before the pandemic. Many consumers withheld membership fees during lockdown periods. Consumers have shifted their demand away from larger facilities to smaller, individualised fitness groups.”
Over the next four years, “continued at-home gym trends and the reorganisation of amateur sports will hinder the industry’s expansion”.
“Revenue is forecast to rise by an annualised 3.8 per cent through the end of 2028-29, to $2.6 billion,” IBISWorld says.
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