Brighton’s iconic Palace Pier, a 126-year-old tourist landmark that has welcomed millions of visitors since it first opened in 1899, has been officially placed on the market amid sustained declines in visitor numbers, falling revenues and sharply rising operating costs. The Grade II*-listed pier, one of the UK’s best-known seaside attractions and a fixture of Brighton’s waterfront, has struggled in recent years to maintain profitability, prompting its owners, the Brighton Pier Group (BPG), to seek a new buyer, with hopes the sale can be completed in time for the summer season.
The pier’s owner, chaired by entrepreneur Luke Johnson, agreed to acquire the structure for £18 million in 2016. Over the past decade it has drawn more than four million visitors annually and featured prominently in British cultural memory, famously appearing in films such as Brighton Rock and Quadrophenia. But the leisure business has been buffeted by a combination of economic headwinds that have taken a toll on its performance. According to BPG’s most recent accounts, like-for-like sales at the pier fell by around 4 per cent in 2024, while profits plunged from £1.7 million the previous year to just £300,000, even as costs increased by roughly 50 per cent. For the year, the net book value of the pier assets also declined significantly, dropping to £13.7 million from £17.3 million.
These financial pressures have been attributed to a range of factors that reflect broader challenges in the tourism and leisure sectors. Poor summer weather over successive seasons has dampened the traditionally strong visitor footfall that Brighton relies on, while the cost-of-living squeeze has seen discretionary spending fall. BPG sought to mitigate some of the revenue decline by introducing an admission fee for non-residents in 2024—initially £1, later raised to £2—but this measure could only partially offset the downward trend in numbers. Rising operating expenses, including higher wages and general inflationary pressures, have compounded the difficulties.
In announcing the decision to sell, BPG’s chief executive Anne Ackord described the opportunity as “more than just the sale of an asset,” framing it instead as a chance for “the next chapter in a remarkable story” and stressing the potential for the pier to flourish under new ownership. The company has engaged international property advisor Knight Frank to manage the sale process and expects interest from both domestic and overseas buyers. No formal guide price has been disclosed, but industry observers note that the pier’s heritage status and seaside location make it a unique proposition for investors willing to reimagine its future.
The decision to put Palace Pier on the market also forms part of a wider strategic shift by Brighton Pier Group, which has been divesting leisure assets and moving away from its former listing on London’s AIM stock market. BPG is actively looking to return capital to shareholders and has previously indicated interest in selling other attractions in its portfolio, such as the Lightwater Valley theme park in Yorkshire. The move underscores the persistent pressures facing traditional tourism businesses in the UK as they adapt to changing consumer habits, economic uncertainty and increased competition for leisure spending.
While the pier continues to draw visitors with its amusement arcades, rides and sea views, its future now hinges on finding an investor who can reinvigorate the site and capitalise on its historic appeal. With the sale process underway, local residents, business owners and tourism stakeholders will be watching closely to see whether the next chapter in Palace Pier’s long history can reverse years of commercial decline and sustain its role as a symbol of Brighton’s vibrant seafront culture.
