Luna Park on sale for $70 million

It's not everyday a Sydney landmark is up for sale, but after almost 20 years, the lease here at Luna Park is on the market. Current tenant Brookfield is looking to offload the heritage site, with price expectations set at around $70 million. They're searching far and wide for a potential buyer to take over the lease, which has 20 years left to run. But regardless of who buys it, it will have to remain an entertainment venue. The land is owned by the NSW government and a parliamentary act prevents it from being used for anything Other than. Amusement park Whoever the new buyer is, it's hoped they'll be able to breathe new life into Luna Park while also retaining the significance of the iconic site. I think it's really important that the buyer of Luna Park loves Luna Park. Luna Park Sydney is one of the rarest arteco amusement parks in the world. One of only two parks globally that's protected by parliamentary legislation, so it's really important that we find somebody who really adores the asset. Expressions of interest open in the coming weeks with a buyer hope to be found by the end of August.