Exclusive Private Track near Savannah

http://www.unlimitedspeed.net/site.html

I spoke with the CEO, lots begin at 750 with the high mark around 3mm. Of 120 members, 23 are sold and ground will break the first of the year. Location, 1.5 hours inland from Savannah.

 

Ok, I live in Savannah. Looking at the website I can't figure out where this would be. Do you have any location details? Cross roads of major highways? This is exciting! There are plenty of pro race drivers who like this area & support racing here.

 

Are these developers vague about the location because the final site has not been determined?

Is there enough demand for two motorsport clubs in the same general area (within 4-5 hours)?

http://ferrarichat.com/forum/showthread.php?t=122522

 

It is near the town of Statesboro.

The business plan is a bit different;

They have 120 home lots and "x" number of paddock "hangers" for sale. The home lots are from 750,000 to 3 million per lot. (Exclusive of home)

You buy a lot and you now have access to track. There will be no rental days, club days or track memberships like a golf club. The only way you get to drive is to buy a lot. Then you have $1800 per month maintainance fees.

So this will be very exclusive--

 

1.5 hours inland from savannah is in the middle of nowhere. would be interesting to see where it is exactly

 

I heard it is in CobbTown, which is just south of statesboro. That makes it about an hour from savannah.

Nonetheless, it doesn't look like we will ever get on it.

I cannot see financially it would survive without track event support.

 

Hard to say if business plan works--On paper the answer must be yes, otherwise they would not be doing it.

Look at the numbers:

Say 100 sites at 1 million a piece: 100 million in income up front.

Cost of land? They have 420 acres at say 20k an acre. (I have no idea what Statesboro arear land goes for.) So this is about 8 million say 10 million overall.

This leaves 90 million for building the facility, which, given what they are building, is probably in the 40 million range. This leaves 40 million left!

So, either they are going to make a lot of money or they have planned on a much smaller initial sale of home sites and are using a 60-70% fill range on selling the sites.

Also, you need to pay 1800$ per month in fees. That is about 200k/month based on 100 homes occupied (180k), which should cover ongoing costs.

Conclusion: The plan is workable, based on getting 60-70 people who will shell out 1 million a pop for land (plus cost of house-say another million?) .

The quesion is: Are there 60-70 people who want to spend that kind of money to have thier own race track? I don't know, people with that kind of money don't hang around with me!

 

I just visited the website www.unlimitedspeed.net and they have added alot more information about the development since the first time I look at the site. The track is 4.5 miles log in design and Bob Barnard the track designer has an extensive history in F1 track design. I would have to think that Phil Hill wouldn't put his name with anything that is not on par with his reputation as a world champion.

 

The contact address is a Breckenridge, Colorado PO Box. Contact phone number is area code 310 (Los Angeles area). Website looks to my eye a bit basic and general.

Don't know anything about the folks involved, but at first blush I certainly don't feel warm and comfy.

 

reportedly already under construction.

 

I've been talking to the developer... its going to be in Lyons Ga. which is closer to Vidalia, and they have not started construction. that is planned for early 07... seems the sites are a bit pricy, but they are drawing from the whole country... so therefore the air strip... supposedly will be IFR equiped... so you can bring in some real aircraft.

I'll let you know more when I'm given the ok by the developer.

Tom

 

Appears the track is open to owners only, who are allowed to have up to 10 'guests' on a list.

Sign me up as a "guest"!

 

I've driven through that area before and certainly the only amenities would be the track, otherwise this is very rural Georgia. The lots sound way overpriced to me, there would have to be more to attract my interest. I think Virginia International Raceway is preparing to sell villas of some kind with track time available as well as car storage. Now that area is beautiful and not too far from the civilization in the NE. I think the concept is good and sure would be a great way to spend the "retirement" years, as long as it was a well rounded kind of "car resort".

 

Ugh Statesboro, did freshman year at GSU...