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.
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