Brighton’s Palace Pier has been put up for sale by its owners of more than a decade following concerns of a decline in tourism for the coastal city.
The 126-year-old Grade II* Listed pier will be put on the market by the Brighton Pier Group for an undisclosed price. The company says the decision was made to ensure shareholders see the best value for money.
Anne Ackord, the group's CEO, said: “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.”
The move comes after years of trading difficulties for the pier in previous years, which the Brighton Pier Group has partly attributed to a decline in tourism to Brighton and poor summer weather.
Any prospective buyer “would want to be in situ by the summer,” Ms Ackord said, meaning the new owners would be in operation before the pier’s busy summer trading period.
The CEO added that anyone interesting it would need “many millions” – although the group has not publicly shared the exact price.
Knight Frank has been appointed to oversee the sale of the 1,722ft structure. The estate agent’s partner and head of specialist leisure, John Rushby, said: “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 bought the structure in 2016 for £18m.
The company previously said that 2023 and 2024 had been “difficult” years for the pier, pointing to a decline in tourism to Brighton.
Ms Ackord said 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 sales dropped by four per cent compared to the year before. The group introduced a £1 admission fee for non-residents in 2024, doubling this to £2 in March, which it reports “partially alleviated” the declining revenue.
However, it warned in November that it was considering selling the historic structure, and has now opted to do so.
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