Brighton Pier put up for sale after ‘difficult’ decline in tourism numbers
Brighton’s Palace Pier has been put up for sale by its owners for more than a decade following concerns about a decline in tourism in the coastal city.
The 126-year-old Grade II* listed pier will be offered for sale by Brighton Pier Group for an undisclosed price. The company said the decision was taken to ensure shareholders get the best value for money.
Group chief executive Anne Ackord said: “The proposed sale of the pier forms part of our strategy to dispose of our leisure assets and return capital to shareholders.
“Brighton Palace Pier is a profitable, independent business with the potential to build on its already strong popularity.
“This is more than the sale of an asset: it is an opportunity to be part of the next chapter of a remarkable story and shape the future of this national treasure.”
The move follows years of commercial difficulties for the pier in previous years, which Brighton Pier Group partly attributed to a decline in Brighton tourism and poor summer weather.
Ms Ackord said any prospective buyer “would want to be in place by the summer”, meaning the new owners would be up and running before the pier’s busy summer trading period.
The CEO added that anyone interested in this would need “millions”; However, the group did not share the exact price with the public.
Knight Frank has been appointed to oversee the sale of the 1,722ft structure. Estate agent partner and leisure expert John Rushby said: “Brighton and Hove continues to grow in popularity as one of the UK’s leading destinations.
“Located in the heart of the city, Brighton Palace Pier stands out as one of the country’s most important heritage landmarks and offers its new owner a rare opportunity to build on its strong foundations and further enhance its position as a leading leisure and hospitality destination.”
Brighton Palace Pier first opened in May 1899 and Brighton Pier Group purchased the structure for £18 million in 2016.
The company has previously said 2023 and 2024 are “difficult” years for the pier, pointing to a decline in Brighton tourism.
Ms Ackord said in March there had been a “very difficult trading situation where costs have increased overall by about 50 per cent over the last few years”.
In 2024, the pier’s sales decreased by 4 percent compared to the previous year. The group introduced a £1 entry fee for non-residents in 2024 and doubled that figure to £2 in March, which it said had “partially mitigated” reduced revenue.
But he warned in November that he was considering selling the historic structure and has now opted to do so.
