Lack of a lease from municipality leads to auction of 75-year-old amusement park’s rides.
Rides at Funworld, on the Durban beachfront, went under the hammer last week after third-generation owner Nic Steyn had battled in vain to sell the family business.
The eThekwini municipality refused to provide potential investors and buyers with the security of a new long-term lease, insisting it has plans to redevelop the site itself. Steyn’s vision of mentoring a new owner also did not materialise...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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