Presentation on theme: "Luna Park Sydney Just for Fun Project Presentation for Economic Investment Appraisal Prepared by Simon Tang 22 June 2002 aka Amusement Park at your Doorstep."— Presentation transcript:
Luna Park Sydney Just for Fun Project Presentation for Economic Investment Appraisal Prepared by Simon Tang 22 June 2002 aka Amusement Park at your Doorstep
Background Why Pick this project ?
Background Managed by Metro Edgley – JV between Metro Theatre, Michael Edgley, Multiplex and Bankers Trust Park is re-opened in April 2004
Background The Park is Owned by Luna Park Reserve Trust and Managed under Sydney Harbour Foreshore Authority In Feb 2001 the development of the Park was declared as of State Significance and development consent (DA) responsibility was transferred from North Sydney Council to State Government
The Boring Part $100 million Investment (Land is worth $10 million – owned by Luna Park Reserve Trust) Expected Park Patrons 900,000 p.a. Expected Function Attendants 265,000 p.a. Calculation of the NPV ????
The Fun Part
Alls Well is Well ………..
We Want More ….. The managing director of Luna Park Sydney, Peter Hearne, said the company needed to pay off $10 million in debt with the proceeds of the 14-storey building. … SMH 31 May
Noisy Neighbours Mosman Daily 10 June pp.1
Other Costs Blocked View Noise Traffic Parking Issues Drunken Patrons at Night ….