‘National treasure’ UK pier goes on the market after Labour tax hikes | UK | News

One of Britain’s landmarks has been put on the market after a “tough” trading period, with buyers told they would be buying a “piece of history”. Brighton’s Palace Pier, a 126-year-old Grade II listed building in the popular seaside city, will be listed for an undisclosed price following an increase in operational costs and a decline in foot traffic, Brighton’s chief executive has confirmed. Anne Ackord, chief executive of Brighton Pier Group (BPG), which bought the asset for £18 million in 2016, said: “The pier is an integral part of Brighton and I know the local council and residents appreciate it.

“There is sadness, of course. It’s been a difficult decision but we have shareholders and we decided it was our duty to them. It’s not just a national treasure, it’s a Brighton treasure. You’re buying a piece of history.” The group had previously reported a turbulent economic environment for the pier in 2023 and 2024; Ms Ackord acknowledged in March 2025 that it had been a “very difficult trading period” with costs “increasing by around 50% overall”.

In documents submitted to Companies House, BPG cited the Labor government’s “significant increases in the National Living Wage and National Insurance” as factors behind the rise in costs, along with a “general downturn in Brighton tourism”.

Ms Ackord told the BBC the sale was likely to be completed for “millions” of pounds and suggested a deal that would allow the new owners to take advantage of the pier’s peak trading period would ideally be “in place in the summer”.

Chancellor Rachel Reeves raised the National Minimum Wage to £12.21 per hour last year; this rises to £12.71 with effect from this April. It has also increased its employer National Insurance rate to 15% and business rates are expected to rise further in the spring.

It comes as bankrupt bosses predict pressures on UK businesses will “intensify” this year due to impending changes highlighted by tighter household budgets and the cost of living crisis.

Matthew Richards, joint head of restructuring and insolvency at consultancy firm Azets, told the Press Association: “The increases in the National Minimum Wage and employer National Insurance have been a major blow and have increased costs at a time when many businesses are struggling to pay their debts.

“With new business rates and a higher National Minimum Wage coming into force from April 2026, we expect retail and hospitality insolvencies to increase as firms struggle to meet the increased costs they will impose on themselves.”

BPG has already offloaded a number of other businesses, including bars Lola Lo, Le Fez, Embargo Replublica and Lowlander, and the Lightwater Valley adventure park in North Yorkshire has also recently been put up for sale, less than five years after the group bought it.

A spokesman warned that Brighton Palace Pier could join the assets disbanded in November, suggesting the move would be “the most effective course of action to preserve and realize value for all stakeholders”.