Brighton Palace Pier is now on the market for sale, with the current owner aiming to secure a buyer before summer arrives. The renowned 127-year-old pier, a Grade II listed establishment that was acquired by Brighton Pier Group for £18 million in 2016, has been entrusted to Knight Frank for the sale process.
Facing challenges of declining visitor numbers and escalating expenses, Brighton Pier Group, known for managing various leisure venues and mini-golf facilities, has decided to sell the iconic 1,722ft-long pier. In 2024, the company witnessed a decrease in earnings to £300,000 from £1.7 million the previous year, coupled with a 4% drop in like-for-like sales. To counterbalance the decline in visitors, the firm introduced a £1 entry fee for non-residents in 2024, which was later raised to £2 in March the following year.
Anne Ackord, the chief executive of The Brighton Pier Group, highlighted the profitability and growth potential of Brighton Palace Pier, emphasizing that the sale presents an opportunity to shape the future of this historic landmark. The company anticipates interest from both domestic and international buyers for the pier, which boasts two arcades, 19 amusement rides, dining options, bars, event spaces, kiosks, and a children’s play area.
As reported by the BBC, Ms. Ackord indicated that potential buyers should be prepared to finalize the purchase by summer, with the sale price likely to be in the millions. In addition to the pier, Brighton Pier Group is also seeking buyers for its Lightwater Valley theme park in North Yorkshire, priced at £3 million.
Ms. Ackord emphasized the importance of tourism to Brighton’s economy, cautioning against complacency and urging collective action to address the challenges faced by the industry. She highlighted the financial strain caused by rising costs, exemplified by the introduction of the £2 entry fee over the past few years.
The sale of Brighton Palace Pier represents an opportunity for investors to partake in shaping the future of this beloved attraction, with the summer deadline looming for prospective buyers.
