Sydney’s Luna Park listed for sale, tipped to fetch $70m price tag
under NSW legislation it must remain an entertainment precinct and cannot be redeveloped into residential dwellings.
Okay, should we believe in this? Watch for new residential buildings to rise on this place.
Anyway, International investors are welcome. Lol.
Thoughts?
Thanks O.P. Bought 5.
Didnt know it still operated… Was great back in the 80s before old moaning bitch moved in next door and started pissing and moaning about noise… Who would have thought that an entertainment park with roller coaster n stuff would be noisy? Like people moving next to a motorsport complex then complaining.
It is very definitely not the land for sale. They have a long term lease, but the land is owned by the government and must remain as a "park".
So it couldn't be turned into apartments by the next owners, for example
So it couldn't be turned into apartments by the next owners, for example
Does the Sirius building, originally built as a housing commission, be an example too?
Trust nobody, in particular government and politicians.
The Land is not for sale (title edited for clarity). For $70m it would be way underpriced, you're just getting the Luna branding, the buildings that already exist and the right to lease the land for the next 20 years.
Yep, and I’m pretty sure the park is heritage listed too
EDIT: yep, heritage listed and its status as an amusement is protected by legislation:
https://www.afr.com/property/commercial/sydney-landmark-luna…
Fun fact: The Melbourne Luna Park sold for $7 million in 2005. It is still operated as a "park".
It is still operated as a "park".
I've always had trouble "parking" there on weekends.
All the whinging, whining, self-entitled Karens who moved in next door, decades after the park existed, is the issue.
I feel for the apartment complex right beside Luna Park. You can hear kids screaming every night. Pretty intense.
Feel sorry for the kids someone from the apartment is watching them while screaming.
The park was there long before the apartments were.
I don’t feel any sympathy for anyone who bought one knowing the park was already there and then complaining about the noise.
would you knock off 50mill if I set fire to coney island?
Hey I think you’ve tried this before!
Absolutely magical location. If it was just a regular unencumbered sale, not lease, it would sell for a squillion.
I used to know someone whose father worked there when I were a wee lad and he'd give me thick ticket rolls - hundreds of ride tickets.
Already sold. Will there be more stock?
Luna Park was better when it was at Glenelg (Adelaide). Maybe new owners will move it back
Bargain