In 1989, a new space-themed section opened featuring The Missile roller coaster, which was voted the best roller coaster in the UK at the time. The park later added the Rocky Mountain Rapids water ride. In 1993, the original log flume was extended with a third drop and renamed Nightmare Niagara, becoming the tallest log flume in the UK.
Granada sold the park in 1997 to Ventureworld, a company led by former Alton Towers developer John Broome. The park was briefly renamed American Adventure World, with plans to change the theme entirely, although the original name later returned. In 1999, the park was bought by a leisure group owned by Trevor Hemmings.
In 2005, three major attractions closed including Nightmare Niagara and The Missile. The park was rethemed as a family attraction aimed mainly at children under 14. The American Adventure operated for the final time in 2006, and in January 2007 its owners confirmed it would not reopen.
The site is now home to a housing development known as Shipley Lakeside, along with a 66-bed care home. Before The American Adventure, a park called Britannia Park opened on the site in 1985 but closed after ten weeks when the company behind it went bankrupt. Derbyshire County Council later bought the land and sold it to the Granada group.