IP Generation locks Tesla, gym to Brand Smart
IP Generation, in the process of being bought by MA Financial, refit and relet of a 2500 square metre piece of Nunawading’s Brand Smart outlet, which it bought 14 months ago.
Revo Fitness will take occupancy at the 288 Whitehorse Road tenancy in weeks.
The end value of the gym after fit-out is speculated at $46m.
The group will join Tesla, set to trade from a dealership; the second we reported the company has committed to since last month.
Outdoor furniture retailer Ecosa has also signed up at Nunawading.
IP, led by Chris Lock, picked up Brand Smart from Acure Asset Management.
On 2.6 hectares with 455 car parks, it contains 9315 sqm, revamped in mid-2021.
Revo moves to Nunawading
Revo trades from seven other Melbourne locations, all in the east and south.
Two are set to open – at Bayswater North and Ballarat.
With its recent acquisition of a Crunch Fitness gym portfolio, it expects to have 77 branches in the medium term.
The second level Nunawading space will include areas for Pilates.
Set to trade 24/7, members will also have access to 21 reformer beds, eight massage chairs and muscle therapy and recovery equipment.
“IP Generation’s focus has been to reposition the site into a highly functional multi-use precinct that serves contemporary lifestyles,” Mr Lock said.
Nunawading is 18 kilometres from town.
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