Sydney’s Luna Park is being sold for the first time in 20 years.
Investment management giant Brookfield hopes to achieve a sale price of
up to A$70 million (US$47 million) for the iconic harbourfront amusement
park.
The precinct is heritage listed and must remain as an entertainment venue.
Luna Park has undergone a A$40 million upgrade during the past four
years, including the redevelopment of the park’s Big Top as a multi-use
venue.
“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,” said Simon
Rooney from global commercial real estate firm CBRE.
The park is inspired by the first Luna Park which opened on Coney Island, New York, in 1903.