Gumbuya Park ready for good times after $4.65m sale
Victorian amusement park Gumbuya Park will undergo a major revamp after Jayco Caravans owner Gerry Ryan and Carsales.com.au founder Wal Pisciotta teamed up to buy it for $4.65 million.
Ryan and Pisciotta are among a number of investors who joined forces who formed a syndicate to secure the tourist attraction.
The iconic park in Tynong, 66km south-east of Melbourne’s CBD, has operated since 1978 and features more than 300 animals, as well as a number of other rides and attractions.
CBRE’s David Minty, Stephen Adgemis, Duncan McCulloch and James Beer managed the sale on behalf of its long-time owners and operators.
The buyers will look to introduce new attractions and some accommodation, helping bring the park back to its former glory
Gumbuya Park is one of only four Victorian properties with a zoo licence and is home to dingoes, cockatoos, wombats, koalas, emus and native Australian birds.
The 166ha landholding also features paddle boats, mini cars, waterslides, pony rides, a mini golf course and toboggans.
Minty says the buyer consortium will usher the park into a new era.
“The buyers will look to introduce new attractions and some accommodation, helping bring the park back to its former glory” Minty says.
“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.”