$11 million investment to drive reopening of Melbourne Star Observation Wheel

New investors are to back Ferris wheel operator Skyline Attractions in the reopening of the Melbourne Star Observation Wheel.

Collectively contributing $11 million in a deal that has already gained approval from liquidators and creditors, the new funding from new Swiss and American backers will see the attraction turn again after having closed in September 2021.

The new ownership group has committed to having the wheel turning again by the end of 2026.

The revived attraction will be managed by a new partnership between MB Star Properties Pty Ltd, the owner of the 120-metre-tall wheel, and international amusement companies Robu Group (Swiss-based), Ray Cammack Shows (USA) and Melbourne-based family business Skyline Attractions.

Jay Jones of Skyline Attractions, which owns and operates other wheels across Australia - including those in St Kilda and South Wharf, as well as Glenelg in South Australia and Airlie Beach in Queensland - explained “we’ve had to replenish old creditors.

“All creditors had to be paid, and then we’ve got to invest to make it shine again.”

Jones said the ambition was to offer “the only thing in Melbourne that’s going to be a pre-COVID price,” and that adult tickets would be between $32 and $35, as they were when the wheel closed.

He added “there’ll be discounted prices for families and seniors, but there will be upsell packages, and people will have the opportunity to spend more.”

Jones said there was “a lot of maintenance to do” before the wheel could take passengers again, but that his team recently had the wheel moving for inspections. The work includes paintwork, upgrading cabins, Wi-Fi installation, lights and rehabilitating four of the 32 motors on the attraction.

The $100 million Observation Wheel originally opened in 2008 - two years late - under the name Southern Star, but was forced to shut just 40 days later because of cracks caused by problems with the design.

It was out of operation for almost five years between 2009 and 2013 as it was taken down and almost fully rebuilt.

City of Melbourne Lord Mayor Nick Reece described the attraction’s return as a major symbol of the revival of Docklands, saying that “Docklands is going from strength to strength at the moment”.

He added ”with the Docklands wheel to spin again, we’ll see close to 250 to 300,000 visitors a year coming into this part of Melbourne. You put that all together, and it is good times ahead for Docklands. It’s a wonderful, wonderful day for our city.”

Image: Jay and Jane Jones of Skyline Attractions at the Melbourne Star Observation Wheel.