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The Melbourne Star Observation Wheel is set to start spinning again after owner MB Star Properties secured a Deed of Company Arrangement (DOCA) with creditors, paving the way for the iconic 120-metre Docklands landmark to reopen in the second half of 2026 after nearly five years of darkness.
Creditors accepted the DOCA on 30 March 2026, following Grant Thornton's appointment as voluntary administrators in February this year.
Under the deed, MB Star Properties will be recapitalised and control will transition back to the company and its directors.
The wheel, which originally opened in 2008 at a cost of $100 million, has been closed since September 2021 when MB Star Properties entered creditors' voluntary liquidation with the operator largely citing COVID lockdowns for the move.
Grant Thornton partners Andrew Hewitt and Matthew Byrnes had served as joint liquidators since 6 September 2021 before being appointed as voluntary administrators earlier this year.
A new operating partnership comprising the Robu Group, US-based amusement operator Ray Cammack Shows and Melbourne-based Skyline Attractions has been assembled to bring the wheel back to life, bringing experience with amusement attractions and observation wheels from across the globe.
“Our team has been working closely on the recommissioning of the Melbourne Star since August last year and have made fantastic progress," says Jay Jones, business manager at Skyline Attractions.
"It’s a privilege to support the safe return of this much-loved attraction, welcoming locals and visitors back to enjoy the views and see the wheel light up the Docklands skyline once again.
“We’re gearing up to reopen in the second half of 2026 and look forward to sharing more updates in the coming months."
Jonathan Codman, director of precincts at The District Docklands, describes the wheel as central to the waterfront precinct's identity.
“The district is proud to be the home of the Melbourne Star and seeing visitors to the precinct enjoy all the attraction has to offer will be a significant milestone," says Codman.
"The Melbourne Star has long been integral to Docklands' and is a world-class attraction.
"We're committed to supporting its return as a vibrant part of Melbourne's unique offering."
In accordance with the deed’s terms, Grant Thornton’s role as voluntary administrators will conclude once the DOCA comes into effect.
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