Sydney’s iconic Luna Park has switched hands, selling for the first time in almost two decades to major local hospitality player, Oscars Group.

The price for the Milsons Point landmark, offloaded by a Canadian investment giant, is hush hush, but hopes when it launched were in the realm of $70 million.

Sydney Harbour’s Luna Park has been snapped up by the pub and hotel owning Oscars Group, with the low-profile company planning to revitalise the ageing fun park with a series of new harbourside restaurants and bars.

A major hospitality group has purchased iconic Sydney attraction Luna Park following an international sales campaign.Oscars Group, a local company, purchased the park for an undisclosed amount from former owners Brookfield.