Brighton Pier put up on the market after ‘difficult’ decline in tourism numbers | EUROtoday

Brighton’s Palace Pier has been put up on the market by its house owners of greater than a decade following considerations of a decline in tourism for the coastal metropolis.

The 126-year-old Grade II* Listed pier can be put available on the market by the Brighton Pier Group for an undisclosed worth. The firm says the choice was made to make sure shareholders see the perfect worth for cash.

Anne Ackord, the group’s CEO, stated: “The proposed sale of the pier forms part of our strategy to divest our leisure assets and return capital to shareholders.

“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.”

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The transfer comes after years of buying and selling difficulties for the pier in earlier years, which the Brighton Pier Group has partly attributed to a decline in tourism to Brighton and poor summer time climate.

Any potential purchaser “would want to be in situ by the summer,” Ms Ackord stated, which means the brand new house owners could be in operation earlier than the pier’s busy summer time buying and selling interval.

The CEO added that anybody attention-grabbing it could want “many millions” – though the group has not publicly shared the precise worth.

Knight Frank has been appointed to supervise the sale of the 1,722ft construction. The property agent’s companion and head of specialist leisure, John Rushby, stated: “Brighton and Hove continues to grow in popularity as one of the UK’s leading destinations.

“Positioned at the heart of the city, Brighton Palace Pier stands out as one of the country’s most significant heritage landmarks, offering a rare opportunity for a new owner to build on its strong foundations and further enhance its position as a premier leisure and hospitality destination.”

The Brighton Palace Pier first opened in May 1899, and the Brighton Pier Group purchased the construction in 2016 for £18m.

The firm beforehand stated that 2023 and 2024 had been “difficult” years for the pier, pointing to a decline in tourism to Brighton.

Ms Ackord stated in March there had been a “very difficult trading situation over the last few years, wherein costs have risen overall by about 50 per cent”.

In 2024, the pier’s gross sales dropped by 4 per cent in comparison with the yr earlier than. The group launched a £1 admission price for non-residents in 2024, doubling this to £2 in March, which it experiences “partially alleviated” the declining income.

However, it warned in November that it was contemplating promoting the historic construction, and has now opted to take action.