The founders of Carsales.com. and Jayco Caravans have joined forces to secure popular Melbourne amusement park Gumbuya Park for $4.65 million.
The investor consortium, comprising Gerry Ryan of Jayco Caravans and Wal Pisciotta of Carsales.com.au, acquired the iconic park, which has been operating since 1978, with plans to undertake a major revamp of the venue.
The park features more than 300 animals, with numerous species of wildlife including dingoes, cockatoos, wombats, koalas, emus and various native Australian birds.
Comprising an approximate 166.26 hectare landholding, Gumbuya Park also features several rides and attractions including paddle boats, mini cars, waterslides, pony rides, a mini golf course and toboggans.
CBRE’s David Minty, Stephen Adgemis, Duncan McCulloch and James Beer managed the sale on behalf of the vendor.
Mr Minty said the incoming owners planned to inject new life into the much loved park, which is located just outside Pakenham.
“The buyers will look to introduce new attractions and some accommodation, helping bring the park back to its former glory” Mr Minty said.
“A change of hands of this iconic park will ensure it remains one of Melbourne’s most popular, small-scale amusement parks, frequented by both local residents and interstate visitors.”
Gumbuya Park is located on the Princes Highway, just outside of Tynong and approximately 66 kilometres from the Melbourne CBD.
For Australian/international news or global stories, follow us on Twitter.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.