Sydney's iconic harborside theme park has been put up for sale, with the asking price believed to be in the region of $70 million.
The land the venue is located on is owned by state government entity Luna Park Reserve Trust, and must remain an entertainment venue even after the sale.
Canadian asset manager Brookfield has confirmed it's selling the amusement park through local real estate agency CBRE.
Luna Park Sydney was first opened in October 1935 following the success of the original theme park of the same name in New York.
It was shut down on several occasions, including after a deadly fire on the Ghost Train ride in 1979, in 1988 for renovation, and in 1996 following a legal stoush with nearby residents over noise complaints and financial troubles, before It reopened in 2004.
The park has 17 rides plus the heritage-listed Coney Island funhouse, as well as the 3000-capacity Big Top music and event venue. Brookfield has owned the park for two decades, but said the time was right for it to pass to new ownership.
"We have been proud owners of Luna Park Sydney for the last 20 years and have invested $40 million since 2019 to enhance its operations," Brookfield Managing Director Ruban Kaneshamoorthy said. "It's time for Luna Park to transition to new custodians, who can steer the business through to its next phase of growth and ensure it remains an icon of the Harbour City." Source
The land the venue is located on is owned by state government entity Luna Park Reserve Trust, and must remain an entertainment venue even after the sale.
Canadian asset manager Brookfield has confirmed it's selling the amusement park through local real estate agency CBRE.
Luna Park Sydney was first opened in October 1935 following the success of the original theme park of the same name in New York.
It was shut down on several occasions, including after a deadly fire on the Ghost Train ride in 1979, in 1988 for renovation, and in 1996 following a legal stoush with nearby residents over noise complaints and financial troubles, before It reopened in 2004.
The park has 17 rides plus the heritage-listed Coney Island funhouse, as well as the 3000-capacity Big Top music and event venue. Brookfield has owned the park for two decades, but said the time was right for it to pass to new ownership.
"We have been proud owners of Luna Park Sydney for the last 20 years and have invested $40 million since 2019 to enhance its operations," Brookfield Managing Director Ruban Kaneshamoorthy said. "It's time for Luna Park to transition to new custodians, who can steer the business through to its next phase of growth and ensure it remains an icon of the Harbour City." Source
