The Palace Pier in Brighton has been put up for sale by the Noble Group.
The deal will involve the sale of the entire issued share capital of the Brighton Marine Palace & Pier Company.
The company was established by Act of Parliament in 1888 to develop and run the pier.
Noble bought the pier in 1984 and said that it had spent £35 million on what it described as Britain’s “largest privately funded conservation project”.
The pier has become one of the most popular tourist attractions in the south east.
With the Royal Pavilion, it plays a key part in attracting eight million visitors a year to Brighton.
Noble controversially rebranded the Palace Pier as Brighton Pier in 2000.
Since the 1990s the company has vocally opposed plans to spend lottery money or public funds refurbishing the now derelict West Pier.
It voiced its opposition despite the belief among some that the Palace Pier would thrive even more if Brighton once again had two vibrant piers.
Dynamic
David Biesterfield, Noble’s development director, said: “Brighton Pier is unique: 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.
“Brighton is cosmopolitan and vibrant.
“It is Britain’s green capital with six Green Flag parks and one of the world’s best beaches.
“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.
“We anticipate a great deal of interest in the sale of this world renowned asset.”
No guide price has been given for the grade II* listed pier which opened in 1899.
It includes two amusement arcades, 18 themed funfair rides and attractions, bars and restaurants and several franchised kiosks.
In the peak summer season employs 300 people.
The pier is open to the public, free, seven days a week throughout the year.
The sale is being handled by GVA Humberts Leisure.
