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Brighton's Palace Pier up for sale
10:36am Wednesday 29th June 2011 in News
Brighton's landmark Palace Pier has been put up for sale by owners the Noble Group.
Property firm GVA Humberts Leisure is handling the sale of the Grade II listed structure which includes the entire issued share capital of the Brighton Marine Palace and Pier Company, which was established by Act of Parliament in 1888, to develop and operate the pier.
The firm has not disclosed a guide price.
The Palace Pier, also known as Brighton Pier after a controversial re-branding in 2000, has been owned by the Noble Group since 1984. The group said it has invested £35million in the structure.
David Biesterfield, Noble’s development director, said: "Brighton Pier is unique.
"It is a dynamic, modern business based on and sustaining our heritage. Since 1984, Brighton Pier has re-established itself as one of the UK’s leading attractions in one of the country’s most popular and forward looking city resorts.
"Brighton is cosmopolitan and vibrant. It is Britain’s Green Capital with six Green Flag Parks and one of the world’s best beaches.
"Over eight million visitors come to Brighton annually and its status, as 'London by the Sea', the resurgence of British tourism and the forthcoming Olympics represent an exciting opportunity for further increasing the number of visitors to the pier.
"We anticipate a great deal of interest in the sale of this world renowned asset.”
For a full report on the sale of the pier and why its owners are selling, don't miss tomorrow's Argus.