The Melbourne Star’s new owners are confident about its future

With the Melbourne Star Observation Wheel set to turn again in 2026, its new owners are eager to turn the page on what has been a quiet and chequered past.

Four years after the 120-metre-tall attraction shut down during COVID, the Melbourne Star’s ownership, MB Star Properties Pty Ltd, will be restructured under a deal involving global amusement specialists The Robu Group, Ray Cammack Shows, and Skyline Attractions.

Jay Jones, business manager at Skyline Attractions, admitted that while he’s feeling a few nerves, he sees this as a real opportunity for the wheel to become a beloved Melbourne icon.

“This is a chance to help bring life back to Docklands and re-establish the Melbourne Star as a must-visit destination,” he said.

“There’s no denying the wheel has had a chequered past, but with fresh eyes and the right experience, we’re confident we can turn things around.”

Melbourne-based family business Skyline Attractions holds a 20 per cent stake in the wheel and plans to bring its extensive knowledge of both domestic and international amusement markets to Docklands.

The company currently operates three wheels around Australia, including the new ferris wheel at South Wharf and at Glenelg in Adelaide. Internationally, they also run wheels in Miami and New Jersey.

Since opening in 2008 at a cost of $100 million, the Melbourne Star has suffered a series of lengthy shutdowns due to mechanical failures, and the pandemic led to the previous operating company going into liquidation.

Mr Jones said the new ownership group will be making significant changes to improve operations, leveraging their years of experience and local knowledge.

“We’ll be making changes to the experience,” he said. “Technology has come a long way, so we’re looking to enhance the ride with new features and tailored cabin experiences for different demographics.”

Skyline Attractions was approached by the original owners in October last year, thanks to its strong track record operating similar wheels. Nearly a year later, the deal was secured.

The new investors have collectively contributed $11 million, in a transaction that has already received approval from both liquidators and creditors.

Once operational, the team has budgeted to maintain the ticket prices at pre-COVID levels, with adult tickets expected to range between $32 and $35.

“In a time where everything else has gone up, we think it’s nice to offer something that’s still affordable – especially when we’re delivering an improved experience,” Mr Jones said.

Jonathan Codman, director of precincts at The District Docklands, said the return of the wheel marked an important milestone for the area.

“What’s exciting is that the new operators bring both local understanding and international experience,” Mr Codman said. “They know what Melburnians are after, but they’re also plugged into what’s exciting and innovative overseas – and that will come through in the experience

Having the wheel back is really the centrepiece of everything we’ve worked towards over the past few years. We’ve brought in more entertainment at The District, and this just adds to the momentum,” he said.

It is expected that the return of the wheel to attract upwards of 300,000 additional visitors, which Mr Codman sees a “huge” win for Docklands.

“This is a genuinely positive story for Docklands. With developments like Sonic Health coming in and more on the horizon, we’re starting to see real progress. People who live here already know how great it is – we just need to overcome some of the lingering negative perceptions from those who haven’t visited in a while.” •