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Brighton Pier Up For Sale Amid Falling Visitors
2 Jan
Summary
- Brighton Palace Pier is on the market due to declining visitor numbers.
- The pier's earnings dropped significantly from £1.7 million to £300,000.
- The Grade II listed pier was acquired by its current owner in 2016 for £18 million.
Brighton Palace Pier, a Grade II listed landmark first opened in May 1899, is now on the market. The Brighton Pier Group (BPG), its owner since 2016 when it was purchased for £18 million, has appointed estate agents to find a buyer by the summer. This move is attributed to a significant drop in visitor numbers and escalating operational costs. In 2024, the pier's earnings fell sharply to £300,000 from £1.7 million the previous year, with like-for-like sales down 4% attributed to unfavorable weather. Despite these challenges, the Brighton Pier Group expressed optimism, stating the pier remains a profitable business with considerable potential. They anticipate interest from both domestic and international buyers for the near 127-year-old attraction, aiming to return capital to shareholders.
