New owner for wheel

ING Real Estate Development appears to be increasingly removing itself from Docklands, with the sale of the Melbourne Star Observation Wheel to Sanoyas Rides Corporation.

The Japanese-owned company is the designer and manufacturer of the wheel and had been rebuilding the structure under warranty.

The company has retained the existing management organisation, Melbourne Star Management Group, to continue managing the wheel.

Melbourne Star Management Group CEO Chris Kelly said the purchase of the Melbourne Star was Sanoyas’s first international purchase.

“Having a leading international attractions operator investing directly in Docklands is a strong vote of confidence and Sanoyas is strongly committed to the position of the star as a major tourist attraction on its opening,” Mr Kelly said.

A Melbourne Star spokesperson did not disclose the purchase price of the observation wheel.

Melbourne Star Management Group is expected to announce an opening timeline for the wheel soon.

The organisation is currently running an employment drive for flight operations, customer service and retail staff for the observation wheel, signalling an opening might not be too far off.