Brighton’s iconic Palace Pier has been put on the market after almost a decade under the ownership of serial entrepreneur Luke Johnson, underscoring the mounting pressure facing Britain’s leisure and hospitality businesses.
The Grade II*-listed attraction, which opened in 1899 and remains one of the UK’s most recognisable seaside landmarks, is being sold by Brighton Pier Group, which has appointed Knight Frank to oversee the sale.
The decision comes against the backdrop of declining footfall, rising employment costs and a sustained squeeze on consumer discretionary spending — a familiar combination for many operators across the UK’s visitor economy.
Anne Ackord, chief executive of Brighton Pier Group, described the pier as “a profitable, standalone business with significant potential”, but acknowledged the “extremely challenging trading environment” now facing leisure assets.
Accounts show that revenues from the pier division fell to £14.9m in 2024, down from £15.6m the previous year. Like-for-like sales declined by 4%, with the business citing a second consecutive summer of poor weather and softer tourism demand in Brighton.
An increase in the admission charge from £1 to £2, introduced in March 2025, helped to partially offset falling visitor numbers, but could not prevent a sharp drop in profitability. Earnings before interest, tax, depreciation and amortisation fell to just £300,000 in 2024, down from £1.7m a year earlier.
The pier had already seen a 3% decline in like-for-like sales in 2023, when train strikes, a fire at a hotel opposite the entrance and adverse weather disrupted trading.
No guide price has been disclosed. Brighton Pier Group acquired the asset in 2016 for £18m, when the company was still trading as Eclectic Bar Group.
In its most recent accounts, published in November, the group booked impairments against the pier, reducing the net book value of the “pier, landing stage and deck” to £13.7m, down from £17.3m the previous year.
At the time, the company said it was actively exploring asset sales in response to “continued cost-of-living pressures”, weaker consumer spending, increases in the national living wage and national insurance contributions, and a reduction in business rates relief, pressures echoed by hospitality and leisure operators nationwide.
Brighton Pier Group is chaired by Johnson, the former owner of PizzaExpress and Patisserie Valerie, who owns more than a quarter of the company. The group also operates bars and mini-golf venues.
Stretching 525 metres into the English Channel, Brighton Palace Pier features 19 fairground rides, two arcades with more than 300 machines, and space for private events. It attracts millions of visitors each year and is widely seen as a barometer for the health of Britain’s seaside and domestic tourism economy.
Ackord said the sale was intended to return capital to shareholders and allow a new owner to take the landmark forward. “This is more than just the sale of an asset, it is an opportunity to shape the next chapter of a national treasure,” she said.
John Rushby, head of specialist leisure at Knight Frank, said the pier represented “a rare opportunity” for investors seeking a heritage leisure asset with strong brand recognition, despite near-term economic headwinds.
Read more:
Brighton Palace Pier put up for sale as rising costs bite leisure sector