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Brighton's Palace Pier is off the market
Brighton's Palace Pier has been taken off the market after 16 fruitless months for sale.
The decision by owners Noble Organisation effectively ends chances of the Grade II listed structure reverting to its historic name, the Palace Pier.
The Argus reported in January this year that there had been no serious potential bidders since it was first marketed in June 2011.
But David Biesterfield, of group development director at Noble, said they had received a “huge amount of interest and a number of substantial offers.” However, he said the pier was now part of a new company strategy and had therefore been taken off the market.
And Mr Biesterfield said it meant the old Palace Pier name, which is still used by many locals and The Argus, will remain consigned to history.
He said: “It is known throughout the world as Brighton Pier.
“I know how strongly some people feel about it but we have to appeal beyond the parochial market.”
The pier has enjoyed a good year despite the bad weather this summer, according to Mr Biesterfield.
It has seen an increase of 50% in filming and functions from TV pilots to adverts for PlayStation and Doritos. And it has held functions for Sony and Apple, the latter saying it was their favourite venue.
Some £35million has been invested in the pier since the Noble Organisation took control in 1984.
Mr Biesterfield said it was looking to invest further in retail outlets on the historic structure.
He added: “We are always looking to refresh and improve ourselves.”
Work started on the construction of the 1,760ft (533.3m) pier in 1891 at a cost of £27,000 and it was officially opened in May 1899.
In May 1940 part was dismantled as it was seen as being of potential use to forces invading from the sea.
During a storm in 1973, the pier was damaged by a barge and it suffered limited damage in a fire in 2003.
At the height of the tourist season, the pier, one of the south coast’s most famous landmarks, employs about 300 people.
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