The Olympic Club building in Hamilton has been sold, but the longtime gym will remain open and under the same ownership.The two-storey, 8,461-square-foot building was sold for $2.1 million to a trust, according to a recent filing with the Registrar. The date of the sale was listed as November 16.Owner Scott Stallard, confirming the sale yesterday, said he has already invested back into the Olympic Club.He said he has become a renter and signed a long lease with the new owners of the building.He said the investment trust that bought the building may have seen a bottom in the market and /or future in the building’s location on bustling Dundonald Street.The asking price for the building was $2.7 million when it was listed with Coldwell Banker Bermuda Realty back in late 2011.“We’ve done new floors, added lots of new equipment and are making ongoing upgrades to the club,” Mr Stallard said.He said the climbing wall has been closed down, however.“It was not financially viable,” he said.He said liability issues, adhering to safety standards, and general upkeep, all added to the high cost of operating the wall, which cost over half a million dollars to install.Instead, the upper deck, open-air platform by the wall has been renovated and turned into a rubberised training area with the addition of boxing and other gear, which the Olympic Club is offering for lease to different outside fitness trainers, especially crossfit trainers, yoga and martial arts teachers.“This new space will be open 24 hours and rented out to other outside trainers to run their own business,” Mr Stallard said.The Olympic Club was the first commercial gym in Bermuda, located originally on Happy Valley, and then the old Disco 40 building, before moving to its current location in 1990.