An iconic UK landmark has been put on the market following a « difficult » trading period, with buyers told they would be snapping up a « piece of history ». Brighton’s Palace Pier, a 126-year-old Grade-II listed structure in the popular seaside city, will be listed for an undisclosed price after a rise in operational costs and fall in footfall, its chief executive has confirmed. Anne Ackord, head of the Brighton Pier Group (BPG), who acquired the asset for £18 million in 2016, said: « The pier is an integral part of Brighton and I know the local council and residents appreciate that.
« Of course there is an element of sadness. It has been a difficult decision but we have shareholders and we have decided that our duty is to them. It’s not just a national treasure but a Brighton treasure as well. You are buying a piece of history. » The group previously reported a turbulent economic climate for the pier in 2023 and 2024, with Ms Ackord aknowledging a « very difficult trading period » in March 2025, when costs « rose overall by about 50% ».
In documents filed with Companies House, BPG cited the Labour government‘s « significant increases in the National Living Wage and National Insurance » as factors behind the rise in costs, alongside « a general downturn in tourism to Brighton ».
Ms Ackord told the BBC that the sale would likely be completed for « many millions » of pounds and suggested a deal will ideally « be in situ by the summer », enabling new owners to take advantage of the pier’s liveliest trading period.
Chancellor Rachel Reeves raised the National Minimum Wage to £12.21 per hour last year, with a further increase to £12.71 taking effect this April. She also hiked the rate of employer National Insurance to 15% and business rates are expected to rise further in the spring.
It comes as insolvency bosses predict that pressures on UK businesses will « intensify » this year amid the upcoming changes, propounded by tighter household budgets and the cost-of-living crisis.
Matthew Richards, joint head of restructuring and insolvency at advisory firm Azets, told the Press Association: « The increases to National Minimum Wage and employer’s National Insurance were a blow – and pushed up costs at a time when many businesses were fighting to stay solvent.
« With new business rates and a higher National Minimum Wage taking effect from April 2026, we expect retail and hospitality insolvencies to rise as firms struggle to meet the increased expenses they will impose on them. »
BPG has already offloaded a number of other businesses, including bars Lola Lo, Le Fez, Embargo Replublica and Lowlander, and the Lightwater Valley adventure park in North Yorkshire was also recently put up for sale, less than five years after the group acquired it.
A spokesperson warned that Brighton Palace Pier could join the ranks of disburdened assets in November, suggesting the move would be « the most effective course of action to preserve and realise value for all stakeholders ».
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