Sydney's landmark Luna Park listed for sale
Sydney’s iconic Luna Park, one of Australia’s most recognisable amusement parks, has been listed for sale for the first time in two decades.
The sale is tipped to generate significant domestic and international buyer interest in the unique site on the shores of Sydney Harbour.
CBRE’s Simon Rooney, James Douglas and Paul Ryan have been exclusively appointed to steer the campaign for the landmark amusement attraction on behalf of global investment firm Brookfield.
Rooney said the sale presents a unique opportunity to secure the Luna Park business in a globally recognised Sydney landmark underpinned by outstanding investment fundamentals and a strong brand.
Trophy assets such as Luna Park are tightly held and rarely traded, with the campaign providing an opportunity to secure a world class entertainment, event and experience destination with further upside.”
John Hughes, CEO of Luna Park Sydney, said since opening in 1935, Luna Park has played an important role in Sydney’s social and cultural fabric.
"The business has undergone a strategic transformation, with a $40 million upgrade during the last four years adding new rides and immersive experiences, both of which are driving record visitation.
"Our outstanding management team is pursuing a strong pipeline of new opportunities that will further add value to the business.”
Luna Park Sydney now features 17 amusement rides, the heritage-listed Coney Island, 7,000 sqm of building floorspace including Sydney’s Immersive Big Top and the 1935-built Crystal Palace as well as a 389-space car park.
The existing floorspace provides opportunities to further enhance the profile of the precinct and drive income growth through additional amusement and immersive experiences or F&B initiatives.
This follows a recent major investment in redeveloping the park’s Big Top as a 3,000 sqm multi-purpose venue, catering to growing global demand for captivating and all-in experiences.”
Luna Park will continue to operate as normal during the sales process.
Expressions of Interest in the Luna Park leasehold close in late August.
