The amusement park’s toothy entrance will need to charm a new set of buyers for the first time in 20 years - at a pretty price.
The amusement park, which opened beside the Harbour Bridge at Milsons Point in 1935, has been listed for sale in a rare campaign that is expected to lure potential buyers from around the world.Credit:For about $70 million, the new owner would acquire the business, the buildings and long-term lease. The land is owned by the Luna Park Reserve Trust, a government agency, and it must remain a park.
CBRE’s head of retail capital markets for the Pacific, Simon Rooney, said the scarce opportunity to purchase the landmark venue was tipped to draw significant domestic and international interest.“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,” he said.
Rooney said: “Luna Park is more than just an amusement park; it is the beating heart of Sydney with an impressive track-record of long-running events including Halloscream, New Year’s Eve and collaborations with key citywide festivals such as Sydney Festival, Vivid and Lunar New Year.”
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