The Melbourne Star Observation Wheel, inactive for nearly four years, is set to reopen following an $11 million takeover by MB Star Properties Pty Ltd.

This new ownership structure includes Melbourne-based Skyline Attractions, US-based Ray Cammack Shows, and RoBu Group, with Skyline Attractions responsible for daily operations.

The reopening is projected for 2026, with significant maintenance and upgrades planned, including repainting, new motors, and improved cabin Wi-Fi.

Jay Jones, head of Skyline Attractions, expressed cautious optimism about the project, acknowledging the wheel's troubled history while committing to manage expectations.

Jane Jones, Business Manager of Skyline Attractions, expressed excitement about reviving the wheel after four years of dormancy, calling it a 'tremendous honour and labour of love.'

Melbourne's Lord Mayor Nicholas Reece has been actively involved in efforts to revive the wheel, expressing excitement for the upcoming reopening and its potential to attract a quarter of a million visitors in its first year.

The announcement of the reopening was made on August 11, 2025, marking a significant milestone for the attraction.

Originally opened as the Southern Star Observation Wheel in 2008, it faced immediate operational issues, was rebuilt after a structural failure, and ultimately closed permanently in September 2021 due to liquidation.

The wheel will be managed by a new partnership consisting of MB Star Properties Pty Ltd and amusement companies The Robu Group, Ray Cammack Shows, and Skyline Attractions.