Melbourne’s Star Observation Wheel sold to Swiss group Robu

Melbourne’s problem-plagued Star giant observation wheel has been sold to an international buyer for an undisclosed sum.

the Melbourne Star Observation Wheel has been bought by a Swiss buyer. Picture: Supplied.

Melbourne’s problem-plagued giant observation wheel has been sold to a Swiss business.

Robu Group announced on Wednesday it had bought the 120m Melbourne Star Observation Wheel for an undisclosed sum, with the new ownership effective from February 1.

It is believed the Melbourne Star was built for around $100m in 2009 and designed by Japanese wheel designer, Sanoyas Hishino Meisho.

It was forced to shut down within weeks of its opening in 2009 due to cracks appearing in the structure and then again almost 10 years later, when almost 100 passengers were stranded in the air

Melbourne Star management said the attraction would continue operating as usual, welcoming thousands of visitors a week, with a new master plan expected to bring new visitor activities and experiences in the near future.

Robu chief executive Ronald Bussink has a high international profile in the world of giant observation wheels, claiming to be the lead designer on more than 100 of the attractions globally.

The Melbourne Start Observation Wheel left passengers stranded when it broke down in 2018. Picture: Andrew Henshaw

“Melbourne Star Observation Wheel is an iconic attraction for the city of Melbourne, and since before its official opening I was already very keen to add this giant observation wheel to our portfolio,” Mr Bussink said.

He inherits a wheel that has made the news for all the wrong reasons since it opened 12 years ago. It promised to bring in tourists and shoppers to the Docklands precinct but it spent around five years idle as cracks appeared in the structure. In late January 2009 as a heatwave hit Melbourne cracks as long as three metres appeared in the wheel and it was shut down just 40 days after its grand opening.

It was closed for years, infuriating local business owners who hoped to cater to wheel passengers.

After reopening in 2018 an engine malfunction left almost 100 people stranded in their pods above the ground. The stranded passengers had to be rescued.

At the time of its construction the wheel was owned and managed by global finance house ING Real Estate.

Despite the many issues plaguing the wheel, Mr Bussink was confident about his purchase.

“Melbourne Star has proved to be a very reliable and safe structure over the last seven years. We saw the Melbourne Star as a unique investment opportunity, which forms part of our strategic focus on stand-alone tourism attractions.

“We are very positive and confident about the future and our new master plan will optimise operations and bring exciting new visitor activities and experiences.”

The Robu Group has a number of tourism investments, including The Cape Wheel in South Africa, Channel 7 Wheel of Brisbane, Skyviews Miami and Skyviews New Jersey in the US, which is to be installed in April.

The Robu Group takes over ownership from Sanoyas Rides Australia (part of Sanoyas Rides Corp of Japan), which has operated the Melbourne Wheel since leading its redesign and relaunch in December 2013.

Sanoyas Rides Australia managing director Yoshio Nagamatsu said: “We’re proud of the safe and successful operation of Melbourne Star over the last seven years, and significant tourism and economic contribution made to the City of Melbourne and State of Victoria.”

“We believe the Robu Group is the right organisation to lead the Melbourne Star Observation Wheel into future growth, and we look forward to seeing their vision for the world-class attraction materialise.”

Originally published as Melbourne’s Star Observation Wheel sold to Swiss group Robu