Brighton’s Palace Pier in the UK has been put up for sale after struggling with visitor numbers in recent years and rising costs.
Owner Brighton Pier Group (BPG), which also runs a number of leisure sites and mini-golf venues, is reportedly hoping to find a buyer by the summer as it sells off assets across the group.
The company – chaired by former Pizza Express boss Luke Johnson – has appointed estate agents Knight Frank to handle the sale of the near 127-year-old pier, which it said was being made to “return capital to shareholders”.
The Grade II listed pier was first opened in May 1899 and was bought by Brighton Pier Group for £18 million in 2016.
Anne Ackord, chief executive of The Brighton Pier Group, said: “Brighton Palace Pier is a profitable, standalone business with significant potential to build on its already strong popularity.
“This is more than just the sale of an asset – it is an opportunity to become part of the next chapter in a remarkable story and shape the future of this national treasure.”
She said the firm is expecting interest from UK and overseas buyers.
The pier saw earnings tumble to £300,000 in 2024 from £1.7 million the previous year as like-for-like sales fell 4%, with the group blaming a second consecutive year of poor summer weather.
But it said a doubling of the admission fee to £2 in March 2024 had helped offset the drop in visitor numbers.
