Wed, 29 Jun 2011 | DIVISION SALE
The Palace Pier, which sits on the coast of Brighton, has been put on the block by its owner the Noble Group.
The guide price for the Palace Pier, also known as Brighton Pier since a re-branding in 2000, has not been revealed. GVA Humberts Leisure has been mandated with the task of selling the grade ll-listed structure.
Noble Group has owned the pier since 1984 and has invested a total of £35 million into it. The entire issued share capital of the Brighton Marine Palace and Pier Company, set up by Act of Parliament in 1888 to develop and manage the pier, is included in the sale.
The 112-year old pier is amongst the UK's most visited places and has 18 themed attractions and rides, two amusement arcades, shops and entertainment outlets.
David Biesterfield, development director at Noble, said, “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.”
The owners expect that the sale will generate plenty of interest.
“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.” Mr Biesterfield added.
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