Brighton Palace Pier is up for sale as rising costs squeeze the leisure sector
Brighton’s Palace Pier building has been put on the market after almost a decade under the ownership of businessman Luke Johnson, underscoring the growing 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 iconic waterfront properties, is being sold by Brighton Pier Group, which has appointed Knight Frank to oversee the sale.
The decision comes as a result of falling footfall, rising employment costs and a continued squeeze on discretionary consumer spending – a common combination for many users in the UK’s tourism economy.
Anne Accord, chief executive of Brighton Pier Group, described the road as a “profitable, independent business with huge potential”, but acknowledged the “very challenging trading environment” now facing the leisure sector.
The accounts show that revenue from the pier division has fallen to £14.9m in 2024, down from £15.6m last year. Like-for-like sales were down 4%, with the business citing a second consecutive summer of poor weather and soft tourism demand in Brighton.
An increase in the entrance fee from £1 to £2, which was introduced in March 2025, helped to partially offset falling visitor numbers, but could not prevent a sharp drop in profits. Earnings before interest, tax, depreciation and amortization fell to £300,000 in 2024, down from £1.7m last year.
The pier had seen a 3% drop in like-for-like sales in 2023, when a train strike, a fire at the hotel opposite the entrance and bad weather disrupted trade.
No guide price was disclosed. Brighton Pier Group acquired the property in 2016 for £18m, when the company was still trading as Eclectic Bar Group.
In its latest accounts, published in November, the group booked an impairment on the property, reducing the total book value of the “pit, landing stage and deck” to £13.7m, down from £17.3m last year.
At the time, the company said it was scrutinizing sales due to “ongoing cost-of-living pressures”, weak consumer spending, rising national living wages and national insurance contributions, and a reduction in business standards, pressures echoed by tourists and leisure operators across the country.
Brighton Pier Group is led by Johnson, the former owner of PizzaExpress and Patisserie Valerie, who owns more than a quarter of the company. The club also has bars and miniature golf courses.
Stretching 525 meters across the English Channel, Brighton Palace Pier includes 19 fairground rides, two arcades with over 300 machines, and a private event space. It attracts millions of visitors each year and is widely seen as a way to balance Britain’s marine life with the domestic tourism economy.
Accord said the sale is intended to return cash to shareholders and allow the new owner to take the brand forward. “This is more than just the sale of property, it is an opportunity to shape the next chapter of national wealth,” he said.
John Rushby, head of specialist leisure at Knight Frank, said the property represented a “rare opportunity” for investors looking for a valuable leisure estate with a strong brand identity, despite the prevailing economic conditions.
