Oscars Group has agreed to purchase Sydney’s Luna Park off Brookfield for an undisclosed amount.
Pub and accommodation group, Oscars Group, has acquired Luna Park Sydney, one of the country’s most recognisable entertainment parks, following an international campaign to sell the renowned location.
CBRE’s Simon Rooney, Paul Ryan and James Douglas negotiated the sale of the landmark amusement attraction on behalf of global investment firm Brookfield.
Oscars Group managing director Bill Gravanis said Luna Park offered outstanding investment fundamentals, strong brand value and recognition.
“We are excited to be acquiring Luna Park and look forward to working with the team. It is an iconic waterfront landmark on the best harbour in the world that presents a great opportunity for the Oscars business. Our goal is to further establish Luna Park as a Top 5 tourist destination for visitors, whilst also promoting it as an entertainment precinct for Sydneysiders. We would like to thank the teams at Brookfield and CBRE for their professionalism during the sale process.”
Luna Park Sydney features 17 amusement rides, the heritage-listed Coney Island, 7,000sqm of building floorspace including Sydney’s Immersive Big Top and the 1935-built Crystal Palace as well as a 389-space car park.
The park, which is celebrating its 90th anniversary in 2025, has also had a recent major investment in redeveloping the park’s Big Top as a 3,000sqm multi-purpose venue.
Luna Park CEO John Hughes welcomed Oscars Group as the park’s new owner at an exciting time for the destination.
“As Luna Park Sydney enters its 90th year, we have exceptional momentum in the business generating record ticket sales and visitation. We’re excited about this next chapter, and the opportunities that Oscars Group ownership will bring to the park,” stated Hughes.
“Our upcoming summer will be the biggest on record with the launch of our Netflix partnership, the world-premiere of the Vegesaurs experience, our famous NYE festival and the launch of the heritage-listed Wild Mouse roller coaster following its two-year restoration.”
Rooney noted that as a class of trophy asset that are tightly held and rarely traded, there was strong local and international interest in the sale.
“The Luna Park business was a sought-after investment given its unique location on the shores of Sydney Harbour. The diverse opportunities to leverage the existing assets and customer base to drive revenue growth via additional amusement, immersive and F&B initiatives were key drawcards for domestic and global buyers seeking value-add investment opportunities.”
The sale of Luna Park is subject to consent provided by the Luna Park Reserve Trust of a change of control of Luna Park Sydney from Brookfield to the Oscars Group.
