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Sydney’s Iconic Luna Park Up For Sale

Sydney’s Iconic Luna Park Up For Sale

Sydney’s iconic Luna Park is up for sale for the first time in two decades.

The 89-year-old amusement park has been put on the market and is expected to fetch around $70 million.

The sale is expected to catch the eye of both domestic and international buyers, and the new owner would be buying the business, the buildings and a long-term lease.

The land is owned by the government agency, the Luna Park Reserve Trust, meaning it must always remain a park.

According to Luna Park Sydney chief executive John Hughes, the park will continue to operate as usual while up for sale.

“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,” he said, reported the Sydney Morning Herald.

The park contains 17 rides plus carnival games, as well as the iconic Coney Island finfair that is state-heritage listed and the Big Top.

The park has weathered many storms during its history, including having been shut down in 1996 after administrators were appointed, with it reopening in 2004.

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