hrsanei AC gym is the best equipped gym in the area. I don't find either form objectionable. The grouping can be (most well) (equipped) or (most) (well-equipped) , so if the speaker is mentally grouping in the first way, he'll probably choose 'best equipped'; otherwise, he'll choose 'most well-equipped'.
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hrsaneiAC gym is the best equipped gym in the area.I don't find either form objectionable.