Sydney Luna Park: Canadian owner Brookfield puts Sydney theme park on the market for $70m

Already a subscriber?Much-loved Sydney landmark Luna Park is for sale with expectations of $70 million or more as its owner, Canadian property giant Brookfield, looks to recycle capital into new opportunities.

“As we focus our Australian portfolio on core assets, it’s time for Luna Park to transition to new custodians, who can steer the business through to its next phase of growth and ensure it remains an icon of the harbour city,” Brookfield head of real estate investments Ruban Kaneshamoorthy said. Luna Park Sydney chief executive John Hughes said the additions of the Immersive Big Top and new rides over the past four years had led to record visits and further work was being considered.“Our outstanding management team is pursuing a strong pipeline of new opportunities that will further add value to the business,” Mr Hughes said.

In Sydney, Brookfield has appointed CBRE’s Simon Rooney, James Douglas and Paul Ryan to handle the sale campaign.

Source: Real Estate Daily Report (realestatedailyreport.net)

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