The owners began seeking alternate locations, placed the park into voluntary liquidation in late 1934, then purchased the company's assets at auction on 8 April 1935.

[4] The lease was expanded in February 1930 to allow for the construction of other attractions, including a Ferris wheel, Noah's Ark, River Caves, and Goofy House.

The park grounds were open to the surrounding area, with admission instead charged to the individual rides and attractions.

[1] On New Year's Eve 1932, a woman who was improperly seated and not holding on fell from the Big Dipper, and died in hospital the next day.

Atkins asked the council on several occasions for a reduction in rent in response to a sharp fall in crowds, which were refused.

[1] The rides and equipment were assembled at the Lavender Bay site, with Luna Park Milsons Point opened on 4 October 1935.