Docklands landmark Melbourne Star set to reopen following $11m takeover by rescue consortium.
The Melbourne Star Observation Wheel will spin in Docklands again following an $11 million rescue deal.
The Docklands landmark has remained dormant for more than 1430 days since closing during Melbourne’s COVID-19 crisis in 2021. A consortium led by a Melbourne husband and wife team, alongside US and Swiss companies, will breathe new life into the attraction, Herald Sun reports.
The rescue group includes Skyline Attractions, Ray Cammack Shows and RoBu Group. They plan to modernise and enhance the visitor experience at the 120-metre high structure.
MB Star Properties Pty Ltd, which owns the observation wheel, went into liquidation in September 2021. The company carried more than $3.9 million in debt when operations ceased. The rescue deal will see creditors paid and safety work completed before reopening.
Melbourne Star Docklands
- Location: Docklands, Melbourne
- Height: 120 metres
- Closed: September 2021
- Planned reopening: Next year
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Work has already begun to get the wheel operational again. Skyline Attractions, the Melbourne business behind a smaller wheel near the Melbourne Convention Centre, leads the restoration effort. The company has partnered with Ray Cammack Shows, which operates observation wheels overlooking Manhattan, Miami, Coachella and the Superbowl.
RoBu Group, the Swiss-based firm that purchased the wheel before the liquidation, completes the rescue consortium. The team plans to transform the guest experience with new offerings including pre-football packages, drink experiences, family-oriented carriages and historic Melbourne tours.
The consortium expects about 250,000 visitors to ride the Melbourne Star Observation Wheel during its first year of renewed operations. This projection aims to inject fresh energy into the Docklands precinct and contribute to Melbourne’s post-pandemic recovery story.
The observation wheel attracted significant speculation during its closure period. Various proposals emerged including potential relocation within Melbourne, interstate moves, overseas sales or even scrapping for materials. None of these options materialised, leaving the structure standing idle until the current rescue emerged.
The rescue announcement comes as Docklands continues its transformation from an underutilised waterfront district into a vibrant entertainment and residential hub. The Melbourne Star’s return represents another milestone in the area’s ongoing development and Melbourne’s broader tourism recovery.
The consortium plans to announce the takeover details formally on Monday. They aim to reopen the Melbourne Star Observation Wheel as early as possible next year, subject to completing necessary safety and restoration work.
Melbourne’s skyline will once again feature the slowly rotating landmark that previously drew visitors seeking panoramic views of the city, Port Phillip Bay and surrounding suburbs.
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