One of Melbourne’s most beloved heritage sites is getting a new lease on life, with Luna Park’s historic Luna Palace undergoing a massive multi-million dollar upgrade.
Thanks to $5 million in funding from the Victorian Government, alongside a $17 million investment from Luna Park Melbourne, the Luna Palace is being carefully restored after hidden water damage forced its closure.
The building, originally home to the Penny Arcade and Dodgems, is now set to reopen as a vibrant events and entertainment space in November 2025.
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As part of the broader restoration effort, Luna Park is also refreshing its iconic entrance towers. The towers have received a new coat of paint and their decorative trimmings are being meticulously renewed to match their original 1912 design. Lighting upgrades are also underway to reintroduce the nostalgic glow that’s lit up generations of thrill-seekers.
The works are being conducted under the guidance of a heritage architect and with full support from Heritage Victoria, ensuring every detail stays true to the park’s century-old charm.
This project follows the successful 2022 restoration of the “Mr. Moon” entrance, cementing Luna Park’s commitment to both preservation and reinvention.
While the Luna Palace’s upstairs function room is temporarily closed, Luna Park remains open to the public throughout the upgrade period. Visitors can still enjoy the rides and classic carnival atmosphere while the iconic site gets its long-awaited glow-up.
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