Brighton’s historic Palace Pier has been put up for sale following a decline in tourist numbers, a drop in profits, and rising costs in recent years. The Grade II-listed structure, which opened in 1899 and has featured in films such as Brighton Rock and Quadrophenia, is owned by Brighton Pier Group (BPG). The company hopes to find a new owner by the summer.
Anne Ackord, chief executive of BPG, said: “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.” BPG acquired the pier for £18 million in 2016. The company, chaired by Luke Johnson, also owns bars and mini-golf sites, and delisted from London’s junior Aim stock market last year.
BPG has appointed real estate agent Knight Frank to handle the sale. Ackord noted that interest is expected from both UK and international buyers. The pier attracts over 4 million visitors annually, but BPG’s accounts show it has struggled with visitor numbers, revenues, and profits. Ackord said the group faced “very difficult trading” last year, with costs rising about 50% in recent years.
In 2024, the pier reported a 4% like-for-like fall in sales, with profits dropping from £1.7 million to £300,000 year on year. The group blamed poor summer weather for the second consecutive year. An admission fee of £1 for non-residents was introduced in 2024, doubled to £2 in March, which partially offset the decline in visitor numbers.
No guide price has been disclosed, but company accounts for 2024 show a net book value of £13.7 million for the pier, landing stage, and deck, down from £17.3 million the previous year. BPG said the pier remains a “profitable, stand-alone business with significant potential”. The sale is part of a strategy to divest leisure assets and return capital to shareholders. BPG is also marketing Lightwater Valley theme park in North Yorkshire for £3 million.
