Milsons Point development site returned to community in $3.2 million buyback
A development site in one of Sydney’s most coveted harbourside locations has been snatched back from commercial use to become a public park.
The NSW government has reacquired a 500-square-metre clifftop site at Milsons Point from Luna Park Sydney for $3.2 million, ending years of uncertainty for the community.
The amusement park operator is a subsidiary of Brookfield Multiplex, which has held a 40-year lease over Luna Park since 2004.
The lease includes several sites surrounding Luna Park, including the clifftop parcel which had development approval for a restaurant.
An artist’s impression of the planned park above Luna Park that had previously been slated for commercial development. Image: Supplied
“This is a prominent waterfront site that provides access to one of the most stunning locations in Sydney and the world,” Finance, Services and Property Minister Dominic Perrottet said.
“Returning this site to the people of NSW will encourage foot traffic along the clifftop and provide locals and visitors with new views of our harbour.”
The state government also indicated today a proposed restructure of the existing lease arrangements of Luna Park and adjacent sites, considered by the former NSW government in 2011, would not proceed.
Discussions between the government and Brookfield Multiplex five years ago to extend the company’s lease prompted a long-running campaign by residents opposed to the deal.
The life and work of one of Australia’s greatest architects, Harry Seidler, is commemorated by Harry’s Park at Milsons Point. Photo: Dirk Meinecke
Health minister and North Shore MP Jillian Skinner said the reacquisition and park plan were a “fantastic outcome” for the local community.
“For years residents have had to deal with uncertainty over the future of the site,” Mrs Skinner said.
Mr Perrottet said Luna Park Sydney had reconfirmed its commitment to complete landscaping works on an adjacent lot once necessary planning consents had been granted.
Adjacent to the site is Harry’s Park, on the corner of Glen and Dind streets, which was opened in 2011 to commemorate the life and work of Australian architect Harry Seidler.
In 2006, eight months after Seidler’s death, his wife Penelope – also an architect – bought the site for $5 million from Luna Park Sydney to halt plans for a 14-storey building.
“I just couldn’t let the building happen,” Mrs Seidler said at the time. “It would have been wrong. There’s too much development already, and Harry was very concerned about the site.”
Property NSW will now begin planning work for the site, with a development application expected to be lodged in the coming months.
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