Brighton Pier Sold For £18m

Perhaps the most well-known landmarks of the South East, our beloved Pier, has been sold for £18m, it has been reported today. Eclectic Bar Group is set to buy the structure and have entered into a ‘conditional agreement to buy Brighton Marine Palace and Pier Company’ the BBC reports.

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image: Valcker

The Eclectic Bar Group is chaired by ex-Pizza Express entrepreneur Luke Johnson, and currently runs student favourites Lola Lo, Dirty Blonde and Coalition. The Brighton Marine Palace and Pier company has owned the pier since 1899. Luke Johnson said “We are very pleased to announce the acquisition of Brighton Pier, one of the most iconic and instantly recognisable attractions in the UK. The pier is hugely popular with the British public and it occupies a special place as a landmark at the heart of Brighton. Brighton is one of the UK’s most popular visitor destinations with over 10 million visitors per year, making it the most visited place in the South East. The pier itself is Britain’s most popular attraction outside London…this acquisition represents he next stage in the group’s development, expanding the Company’s existing portfolio and using the enhanced Board’s diverse skillset to become a differentiated operator of leisure and entertainment assets.”

The Pier cost £27,000 to build and opened in 1899 and was built to replace the old pier. There is no information yet as to what the Eclectic Bar Group plan to do with the pier but no doubt they have some big plans.

 

Holly Martin

holly@bjournal.co

feature image: Michael Bamford

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