The renowned Luna Park in Sydney has hit the market, with an anticipated price tag of $70 million. This exciting listing is expected to attract significant interest both locally and internationally.
A Rare Investment Opportunity
The beloved Milsons Point amusement park is being sold by CBRE agents Simon Rooney, James Douglas, and Paul Ryan. “Trophy assets such as Luna Park are tightly held and rarely traded,” said Rooney. This sale is a unique chance to acquire a world-class entertainment destination.
A Rich History and Bright Future
Owned by Brookfield, a Canadian construction giant, under a lease expiring in 2040, the park must remain an entertainment venue as per NSW legislation. Luna Park’s CEO, John Hughes, highlighted the park’s commercial success, noting a $40 million upgrade in the past four years, which has significantly boosted visitation.
An Amusement Park with a Legacy
Luna Park, inspired by New York’s Coney Island, opened in 1935 and now features 17 rides, a heritage-listed funfair, and event spaces like the Crystal Palace and Big Top. The NSW government previously purchased a nearby clifftop site for $3.2 million, converting it into a public park.
Continued Operations During Sale
Despite the sale, Luna Park will continue to operate normally. The sale offers new investors a chance to further enhance the park’s profile and explore new opportunities for growth, keeping it a central part of Sydney’s cultural landscape.
A Cultural Gem of Sydney
Luna Park has been pivotal in Sydney’s social fabric since its inception. Its recent upgrades include new rides and immersive experiences. The park’s management team is actively seeking new opportunities to add value.
Maintaining a Heritage
Luna Park remains a significant part of Sydney’s heritage, with its heritage-listed Coney Island and numerous amusement rides. The sale will allow the park to continue thriving under new ownership while preserving its historical significance. The park’s sale is an exciting prospect for investors looking to capitalize on a landmark with strong investment
