High-octane investment on market with sale of Adventure Park and Kartworld

WHAT could be billed as a quirky, high-octane investment at a small bite size lot has just come to market with the proposed sale of Adventure Park and Kartworld, just off the M8 at Cork’s Watergrasshill.

A very long established outdoor karting track which hosts national events as well as corporate activities is up for sale with Rob Coughlan of Cohalan Downing Associates: he seeks offers of €350,000 for the multi-activitiy facility on 17 acres, a mile from the motorway and 20 minutes from Cork city.

He says it’s one of the country’s top outdoor kart racing facilities, with two tracks, and its operators pay an annual rent of €50,000 pa.

Other events catered for and corporate/group activities there include archery, paintballing, laser shooing challenges, sumo wrestling, gladiator jousting and bubble ball football.

Noting that tenants/operators will remain unaffected by the sale, Mr Coughlan says “this is an opportunity to acquire the landlord’s interest in a purpose-built and trading karting centre with its additional outdoor activities on offer.

On the 17.5 acres are two karting tracks, a 8,500 sq ft clubhouse property with reception, commercial kitchen, dining area, viewing area, games room, additional ancillary sheds and workshop areas.

The building’s first floor is done as residential accommodation, with four bedrooms, kitchen/ living area and office, along with an open plan meeting room/ activity space, used as part of the centre’s activities.

The agents CDA describe the investment as an unusual offering and the centre as “a renowned property and business,” easily reached off the M8 Cork-Dublin motorway, just south of the Watergrasshill Business Park.

Cork has two other karting facilites as the motor-sport activity has grown in popularity, and the other two ventures are Kartmania with a track at the GB Commercial Park, Little Island, and the National Kart Centre in the Marina Commercial Park, coincidentally the ‘spiritual heart’ of the Ford company in Ireland, as the building was the original engine factory for Irish fords, extablished 100 years ago.

Kartworld at Watergrasshill is held on a 25 year lease from September 2011 with a current passing rent of €50,000 pa.

DETAILS: Cohalan Downing 021-4277717