Brighton Pier up for sale as Reeves’ tax hikes bite
Brighton Pier Group, which was taken private earlier this year, has placed all its assets on the market as it battles “an extremely challenging trading environment” and the impact of Rachel Reeves’ tax hikes.
In its first set of accounts since quitting the London Stock Exchange’s AIM in May, the group said it is “now actively exploring opportunities for the potential sale of some or all” of its remaining assets.
It added that the timeline for the whole process “is not yet certain”.
Selling off parts of the group started in September 2024 when it decided to dispose of five of its bars.
The sale of Lowlander was completed in July this year while Bristol and Reading were disposed off in August.
The group said the sale of the remaining two sites are expected to be complete before the end of 2025.
In a statement included in its accounts filed with Companies House, Brighton Pier Group said: “It is the view of the directors that sales processes, if successful, for these remaining assets is in the best interests of all of the group’s stakeholders, and that these measures, combined with the cost-saving opportunities referenced above, will enable the group to remain resilient in the face of an extremely challenging trading environment that appears set to continue in the short to medium term.”
As well as owning the 126-year-old Brighton Pier, the group also incudes several mini-golf sites around the country and Lightwater Valley Family Adventure Park in Yorkshire.
The group is charged by former Pizza Express and Patisserie Valerie boss Luke Johnson.
Sales fall as admission price doubles
Brighton Pier Group’s like-for-like sales this year through to the end of September are down £2.3m, or 10 per cent, compared to the same period in 2024.
The pier has also seen a fall in overall visitor numbers across its key trading periods.
The group added that increasing its admission charge from £1 to £2 from March 2025 “was able to partly offset the decline in footfall”.
However, its total sales of £12.2m are £800,000 lower than the same period in 2024.
The golf division’s revenue of £4.1m is also £400,000 down after it struggled with lower turnout, “exacerbated by a general decline in retail footfall across the UK”.
Lightwater Valley also suffered with lower visitor turnout with its total sales to the end of September 2025 of £1m down £300,000.
On a like-for-like basis, excluding the contribution from disposed of sites, the bars division’s total sales of £1m is also £300,000 lower.
Rachel Reeves’ tax hikes hit group
On its outlook, Brighton Pier Group said: “In the short-to-medium term, we expect the challenges in the consumer discretionary market to continue to negatively impact the hospitality and leisure industry, which has been further influenced by global economic uncertainty and changing consumer preferences.”
It added: “The pressures on the group’s cost base have continued in 2025 with significant increases in the National Living Wage, National Insurance and a reduction in retail, hospitality and leisure relief.
“Accordingly, the group has necessarily focused its strategy on cost savings and the health of its balance sheet, with the delisting of the group that took place on 12 May, 2025, expected to provide the group with significantly reduced costs and regulatory burdens, enabling greater strategic flexibility going forward.?
Cost-of-living crisis bites
According to the new accounts filed with Companies House, Brighton Pier Group’s revenue fell from £26.4m to £25.8m in 2024.
Its pre-tax losses also widened from £2.8m to £7.8m over the same period.
On its trading in 2024, Brighton Pier Group said: “2024 was another difficult trading period for the group, with a second consecutive year of poor weather during the peak Sumer trading period.
“This adversely impacted the trading performance of the pier, which was compounded by a general decline in tourism in Brighton.
“The introduction of a £1 admissions charge to non-residents partially alleviated the lost sales from the resulting lower footfall.
“The continued cost-of-living pressures and resulting cutback on consumer discretionary spending is affecting the whole of the hospitality and leisure industry and negatively impacted footfall across the group estate.”
Brighton’s tourism troubles
The troubles facing tourism in Brighton were also highlighted towards the end of 2024 when the i360 viewing pod filed for administration.
At the time, Brighton & Hove City Council said Brighton i360 Ltd was £51m in debt to the authority.
Brighton i360 chair Julia Barfield said in November 2024 that the decision to place the company into administration was a direct result of rising costs, bad summer weather and the cost-of-living crisis.
In February this year hospitality company Nightcap, which is run by former Dragons’ Den judge Sarah Willingham, announced it had bought the site.
It was later reported that the purchase price was just £150,000.
Brighton Pier joins Blackpool counterpart on the market
The potential sale of Brighton Pier is not the only historic seaside attraction of its kind to be currently up for grabs.
In July, City PM reported that The Blackpool Pier Company had decided to put the North Pier up for sale “with a heavy heart”.
The North Pier is the sixth-oldest of its type still in use in the UK having been opened in 1863. The oldest is Ryde Pier on the Isle of Wight in 1814.
The grade II-listed pier has been owned by Peter Sedgwick for the last 14 years after snapping it up for around £8m.
New accounts filed for the group show its turnover fell from £15.3m to £13.8m in 2024 while its pre-tax losses widened from £335,649 to £701,445.