Brighton Pier put up for sale after ‘difficult’ decline in tourism numbers
UK landmark put on sale after years of trading difficulties
- Brighton's 126-year-old Palace Pier has been put up for sale by its current owners, the Brighton Pier Group.
- The decision follows years of trading difficulties, including a decline in tourism to Brighton and rising operational costs, with sales dropping four per cent in 2024.
- The Grade II* Listed structure, which the group acquired in 2016 for £18m, is expected to fetch 'many millions' from a prospective buyer.
- Anne Ackord, CEO of Brighton Pier Group, stated the sale is part of a strategy to divest leisure assets and return capital to shareholders.
- Knight Frank has been appointed to oversee the sale, with the aim for a new owner to be in place before the busy summer trading period.