Luna Park Sydney up for sale – Business News Australia

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Significant domestic and international interest is expected for a piece of iconic, prime real estate on the shores of Sydney Harbour as Luna Park Sydney is listed for sale for the first time in two decades.

Luna Park Sydney CEO John Hughes says the theme park has played an important role in Sydney’s social and cultural fabric since its opening in 1935.

“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,” Hughes says.

“Our outstanding management team is pursuing a strong pipeline of new opportunities that will further add value to the business.”

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.

“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,” says Rooney, who was involved in another iconic property sale of Manly Wharf to Artemus Group, the owner of Brisbane’s Howard Smith Wharves, in 2023. 

“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.”

Luna Park Sydney now features 17 amusement rides, the heritage-listed Coney Island, 7,000sqm of building floorspace including Sydney’s Immersive Big Top and the 1935-built Crystal Palace as well as a 389-space car park.

“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 city-wide festivals such as Sydney Festival, Vivid and Lunar New Year,” Rooney adds.

“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 (food & beverage) initiatives.

“This follows a recent major investment in redeveloping the park’s Big Top as a 3,000sqm 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.

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