Sydney's iconic Luna Park set to fetch up to $70 million after being listed for sale by its Canadian owner Brookfield
The sale is set to draw in the likes of Melbourne's BGH Group, Dreamworld-owner Coast Entertainment Holdings and Manly Wharf owner Artemus Group tipped as potential contenders, The Australian reported. While the heritage-listed park will undoubtedly generate a flurry of interest, residential property developers are unable to add it to their portfolio for development as the property site is dedicated to entertainment purposes only under the Luna Park Site Act 1990.
“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." “The business has undergone a strategic transformation, with a $40m upgrade during the last four years adding new rides and immersive experiences, both of which are driving record visitation," he said.
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Source: FinancialReview - 🏆 2. / 90 Read more »