A prominent indoor go-karting business at Albion Park Rail and its premises are up for sale.
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The recognisable C1 Speed Karting & Laser Tag is on the market.
The site at 176-178 Princes Highway, Albion Park Rail features a 4047sqm land holding with rear street access, a 2420sqm building and modern six-bedroom house at the rear of the site.
It is predominantly zoned ‘IN1 General Industrial’.
The C1 Speed website states that it features “the most modern indoor track for electric karts in the world”.
One of the selling agents, Tim Jones, director of commercial sales at MMJ Real Estate Wollongong said the business and site are for sale.
“The main goal is to sell both to the one buyer, because in an ideal world the business would keep trading,” he said.
“It’s a viable and profitable business, you’ve just got an owner who has other business interests and really has to focus on those more so than this.
‘He’s looking to pass it on to someone else to take the baton and keep running the business.”
Expressions of Interest for the site closed in May.
Mr Jones said this process had gone well, with a number of EOI received.
“We’re dealing with a small, select group of purchasers going forward, but there is definitely genuine interest from this group,” he told the Mercury.
“All of these are people who would continue to run the business long-term.
“There has been a lot of progress to date, but I would suggest we are at the pointy end of negotiations with at least one party.”
It employs 45 casual and two permanent staff.
Owner Steve Caunt and wife Dee-Ann spent nearly a year watching the huge building, housing a quarter-mile racetrack, rise from the ground on Albion Park Rail’s main road.
Two years ago, the business also incorporated Laser Tag.
“It’s a good business and a clean, beautiful building, and we decided to try and sell it as a going concern,” Mr Caunt said.
Mr Caunt said that if they didn’t sell it this time around, C1 Speed would continue operating “business as usual”, and they may attempt to sell again in the future.
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Brendan Crabb
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
