Brighton’s iconic Palace Pier has been put on the market after almost a decade under the ownership of serial entrepreneur Luke Johnson, underlining the growing pressures facing British leisure and hospitality businesses.
The Grade II-listed attraction, which opened in 1899 and remains one of Britain’s most recognizable seaside landmarks, is being sold by Brighton Pier Group, which has appointed Knight Frank to oversee the sale.
The decision comes against a backdrop of declining visitor numbers, rising labor costs and continued pressure on consumer spending on consumer discretionary – a familiar combination for many operators across the UK visitor economy.
Anne Ackord, managing director of Brighton Pier Group, described the pier as “a profitable, standalone business with significant potential” but acknowledged the “extremely challenging trading environment” leisure facilities are currently facing.
The accounts show revenue from the pier division fell to £14.9m in 2024, compared to £15.6m the previous year. Like-for-like sales fell 4%, with the company citing a second straight summer of poor weather and weaker tourism demand in Brighton.
An increase in the ticket price from £1 to £2, introduced in March 2025, helped partially offset falling visitor numbers, but failed to prevent a sharp decline in profitability. Earnings before interest, tax, depreciation and amortization fell to just £300,000 in 2024, compared to £1.7m the previous year.
The pier had already seen like-for-like sales fall 3% in 2023 as train strikes, a fire at a hotel opposite the entrance and bad weather disrupted trading.
No indicative price has been announced. Brighton Pier Group acquired the asset for £18 million in 2016, when the company was still trading as Eclectic Bar Group.
In its most recent annual accounts, published in November, the group recorded impairment charges on the pier, reducing the net book value of “pier, jetty 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 “ongoing cost of living pressures”, weaker consumer spending, increases in the national living wage and national insurance contributions, and a cut in business rates relief, pressures echoed by hotel and leisure operators across the country.
Brighton Pier Group’s chairman is 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 courses.
Stretching 525 meters into the English Channel, Brighton Palace Pier features 19 rides, two arcades with more than 300 machines and space for private events. It attracts millions of visitors each year and is widely regarded as a barometer for the health of the UK’s coastal and domestic tourism industries.
Ackord said the sale was intended to return capital to shareholders and allow a new owner to move forward with the landmark. “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 leisure at Knight Frank, said the pier represents “a rare opportunity” for investors seeking a historic leisure property with strong brand recognition despite short-term economic headwinds.
