One of Britain's most famous seaside landmarks, Brighton Palace Pier, has officially been put up for sale following a decade of financial struggle and declining visitor numbers.
A Decade of Difficult Trade Comes to an End
The Brighton Pier Group, owned by serial entrepreneur Luke Johnson, has confirmed it will market the historic attraction. The group, which also owned the now-sold Lightwater Valley theme park, bought the pier for £18 million ten years ago but is now "throwing in the towel". The decision follows months of speculation about the pier's future.
Recent accounts reveal the stark challenges. Revenue in 2024 fell four percent to £14.9 million, down from £15.6 million the previous year. More dramatically, earnings before interest, taxes, depreciation, and amortisation (EBITDA) plummeted to just £0.3 million, compared to £1.7 million. The group's most recent accounts also wrote down the pier's book value from £17.3 million to £13.7 million.
Perfect Storm of Rising Costs and Bad Weather
Management has blamed a confluence of factors for the "subdued trading performance". These include significant increases in the National Living Wage and National Insurance introduced in Labour's 2024 Budget, which reduced business relief. The company even delisted from the AIM stock exchange to cut costs.
External factors have also played a major role. The pier, which welcomes around four million visitors a year according to VisitEngland data, suffered from exceptionally poor summer weather in 2024, train strikes, and a major fire at the Royal Albion Hotel opposite its entrance. Sales had already dropped three percent from 2022 to 2023.
In an attempt to offset falling revenues and the over £1 million annual maintenance cost for the 126-year-old structure, the pier introduced an admission fee in summer 2024. Initially set at £1, it now stands at £2 for adults, raising £0.7 million last year.
Searching for a New Custodian
Estate agents Knight Frank have been appointed to handle the sale, with the goal of securing a new owner in time for the crucial summer trading period. No guide price has been announced, but Chief Executive Anne Ackord told the BBC a buyer would need "many millions".
In a statement, Ackord described the pier as a "profitable, standalone business with significant potential". She framed the sale as "an opportunity to become part of the next chapter in a remarkable story and shape the future of this national treasure."
Dr Anya Chapman, a seaside pier expert from Bournemouth University, emphasised that any new owner must see themselves as a custodian, not just an investor. "The maintenance costs are just going up and up," she said. "You buy one because you're invested in it... It's the most successful pier in the UK, the most Instagrammed pier in the country... It's not going anywhere: it just needs a lot of money to keep it running."
The 1,722-foot pier, which opened in 1899, is a Grade II* listed structure and a cultural icon, featuring in works from Brighton Rock to Stormzy's recent film. It operates 19 amusement rides and two large arcades with over 300 machines. It remains Brighton's only functioning pier after the West Pier's decline.
Its sale reflects a wider trend for British seaside piers, with Blackpool North Pier and Totland Pier on the Isle of Wight also on the market. Of the 100 piers that once graced Britain's coastline, only about half remain standing today.
