Sydney’s Iconic Luna Park Listed for Sale After Two Decades Under Brookfield Ownership

Sydney‘s beloved landmark, Luna Park, is set to hit the market for the first time in twenty years, as its current owner, the Canadian property conglomerate Brookfield, looks to divest the iconic amusement park. With a price tag estimated to exceed $70 million, the sale of Luna Park Sydney presents a unique opportunity for investors to acquire a piece of the city’s history.

Since its inception in 1935, Luna Park has stood as a prominent attraction nestled beneath the Sydney Harbour Bridge, captivating generations of locals and visitors alike. The upcoming sale signals a new chapter for the amusement park, beckoning potential buyers to envision a fresh future for this treasured site.

Brookfield acquired Luna Park Sydney in 2007 as part of its acquisition of Multiplex, marking a significant chapter in the park’s ownership history. John Hughes, the CEO of Luna Park Sydney, expressed that the decision to sell at this juncture stems from the park’s robust performance and strategic growth initiatives in recent years.

The concept of Luna Park was brought to Australia by the visionary entrepreneur Herman Phillips, drawing inspiration from the original Luna Park in Coney Island, New York. Luna Park Melbourne and Luna Park Glenelg in Adelaide preceded the establishment of Luna Park Sydney, solidifying its place in the annals of Australian amusement park history.

Protected by legislation, Luna Park Sydney holds a special status, requiring it to remain an amusement park for the enjoyment of all Sydney residents and visitors. This unique legal protection sets Luna Park apart and ensures its enduring presence as a cultural touchstone in the city.

Throughout its storied past, Luna Park has weathered challenges and triumphs, from its closure in 1979 following a tragic fire on the Ghost Train, to its subsequent reopenings in 1982, 1995, and 2004. Each iteration has contributed to Luna Park’s enduring legacy as an integral part of Sydney’s social fabric.

As the sale process commences, international real estate firm CBRE has been enlisted to oversee the transaction, underscoring the significance of this sale within the commercial real estate landscape. With interest expected from a range of potential buyers, Luna Park Sydney’s future is poised for a transformative new chapter under fresh ownership.