The i360 has been bought out of administration by a premium bar chain which was founded by two people from Brighton – one of them a former star of the Dragons’ Den TV show.
Nightcap Limited, which has almost 50 “hospitality venues”, signed the deal this evening (Tuesday 4 February) after Brighton and Hove City Council agreed to write off the seafront attraction’s £51 million debts.
The bar business was set up by a Kemp Town couple, former “Dragon” Sarah Willingham, 51, and her husband Michael Toxvaerd, 50, five years ago.
Nightcap said: “The decision allows both the continued operation of this important Brighton attraction which brings hundreds of thousands of visitors to the seafront every year as well as representing an exciting step forward for Nightcap.
“This expands their portfolio to 46 venues, including renowned brands such as the Cocktail Club, Luna Springs, Dirty Martini, and the Piano Works. Nightcap is proud and excited to bring more great hospitality to this vibrant seaside city.
“Under this agreement, Nightcap takes over the remaining 115-year lease of the i360, a site recognised as one of the world’s tallest moving observation towers.
“The i360 is a popular well-established hospitality venue and iconic attraction with more than 250,000 annual visitors.
“It has more than 20,000 sq ft of hospitality trading space including multiple bars, events spaces, cafés and entertainment areas.
“In addition, it has 75 metres of beach frontage, a beach bar, terrace, rooftop and beach operating space.
“The acquisition has been completed free of debt and any historic liabilities, allowing a fresh start for the venue post Nightcap’s significant capital investment.
“Nightcap has rapidly established itself as a leading force in the hospitality industry. Its continued growth is driven by a relentless commitment to delivering exceptional nightlife, live music, top-tier events and innovative food and beverage offerings.
“The addition of the i360 tower underscores Nightcap’s dedication to inject fresh energy into iconic venues. An exciting start to 2025 for Nightcap.”
Nightcap founder and chief executive Sarah Willingham said: “We couldn’t be happier to welcome the i360 to the Nightcap family and delighted that Brighton and Hove City Council has paved the way for us to keep this iconic landmark open.
“We look forward to working with them to make the West Pier part of Brighton a thriving hub for residents and visitors alike.
“We pass the i360 every day and were as disappointed as everyone else when it went into administration and no buyer was found.
“The impact of its closure would have been catastrophic to our local businesses and a blemish on this important part of the Brighton seafront.
“We hope we will get the support of our tight-knit local community as we embark on this new chapter for the i360.
“We are delighted to start the new year by adding such a fantastic venue to the Nightcap group. As we continue to grow, our priority remains creating memorable venues where people want to come together, have fun, laugh, celebrate and make lasting memories.”
Peter Kyle, the Labour MP for Hove and Portslade, said: “Looking to the future, I now see a fantastic seafront in our city.
“It is book-ended by the amazing Sea Lanes in Kemp Town and the new Hove Beach Park – and now at its centre will be this.
“The choice for the council was clear – let the i360 rust and become another derelict West Pier or encourage enterprise and get something special in this central location. I’m over the moon they chose the latter and look forward to working with Nightcap.”
Councillor Jacob Taylor, the deputy leader of Brighton and Hove City Council, said: “We are delighted that Nightcap has taken such a keen interest in revitalising the i360 – and their passion and commitment to the city is evident.
“We think this is the best option for the city – giving a fresh start for the attraction and helping to ensure this important stretch of seafront can thrive.”
West Pier Trust chief executive Rachel Clark said: “West Pier Trust has been extremely impressed by Nightcap’s experience, professionalism and understanding of Brighton’s unique character in its bid to take over the i360. We confidently look forward to a fruitful and collaborative partnership with them.”
Charlie Carter, from Interpath, who led the transaction on behalf of the administrators for Brighton i360 Limited, said: “We’re delighted to have secured this transaction which will see this iconic attraction brought back into operation, providing opportunities for job creation and investment in the West Pier area. We wish the team at Nightcap all the very best for the future.”
The Green MP for Brighton Pavilion, Siân Berry, said: “I welcome the news that the i360 is being given a new lease of life with new ownership.
“This is great news for the local business owners who I know were worried about the potential for total demolition that was being discussed by some in the council.
“And I am excited to talk with the new owners about how we build up the positivity about this crucial area of our seafront.
“As things progress, it’s important that the council is transparent about the sale and residents get full sight of the details, including the proportion of revenue the city will receive.”
No doubt it will have a barometric rise to profitability
Who said a Weatherspoons? I’m counting that one.
Me!
So how much did they buy it for? I understand they did not take on the debt but how much did it cost them?
Will the new co or BHCC be aying the hefty insurancevpremoun.coverin public liability, breakdown, personal liability, accidental death/ jnf
jury whether by fire or other? thanks j
No.
Please re-read posts before posting to correct spelling and other errors!
The owners are responsible for insurance.
The council has never owned the i360 so isn’t responsible for insurance or any other operating costs.
This will end in tears for the council taxpayers of the city again.
Popular and well established? Erm…
Come April.
Our council tax will rise. I’d put money on it…
How BHCC can justify writing off the £51 million. Just baffles me. They’ll need to recover it somehow and the only way they know how, is to target the poor residents of Brighton & Hove anyway they can.
I do agree the company who have brought it shouldn’t be responsible for the debt and I wish them all the best on making this eye sore of an attraction money and more appealing to not only the residents of the city but the visitors who visit the the city also.
But I just can’t see BHCC not trying every trick in the book to somehow try and recover that huge, huge debt that has come from this…..
As someone who was born and bred in Brighton and having lived here all of my life. I can honestly say. I think the i360 is one of the worst attractions to have been built here. It’s ugly, cost far too much money to build which they inevitably never got back from the get go and now magically can make a 51 million pound debt disappear…. Yeah right!
Demolish the whole thing and bring back the wheel. The wheel knocks socks off this i360 rubbish!
Provision for the council having to pay back the loan has been included in the budget for a couple of years already. There won’t be a specific or additional rise to cover it.
So from the original £36m to the present £51m you are saying the council allowed in the budget for increases in the repayment of the debt. So if that is true why did the council audit team not question the I360 figures and realize it was never going to repay any part of the debt.
They have already put up the council tax on second homes by 100%. We will now be paying over £6000 on a 2 bed flat. We use the flat and don’t rent it out. Looks like we will have to sell 🙁
Or rent it out
The Council still owns the i360.. It’s leased.
The council has NEVER owned the i360.
Correct! BHCC are freehold owners of the land.
The West Pier Trust are the leasehold owners of the pier in the sea and the beach area the i360 occupies. They were mighty silent over the years of silent death of the i360 dream. Without them, there would never have been an i360.
Typical negative, whingeing comments from Brightonians but there’s no point going backwards and leaving it to decay into a derelict eyesore – I think this partnership is really great and will re-invigorate the attraction, draw new visitors and turn this part of the seafront into a fun and vibrant place for visitors and locals alike ..
Yes but the 51 million will be repaid by the tax payers. How is that fair ?
It isn’t fair. Just wait to see how the council puts that debt on the people for their shortsighted views on attracting tourists.
Nothing to do with the i360, I’ve noticed your advert for the reliefFoot shop you might want to look into this as it isn’t what it seems.
It is good news the west pier area will not look derelict, how can I find out what type of lease has been given, and how much the new lease will generate for the council
I notice that not a single mention,of future income to The Council,(and us),or have i missed something?
I wish the new owners the best of luck,just happy that I don’t own shares in their Company!
1% of future ticket sales goes to the council. Its in the article
Ok so how much are they paying as we presumably will receive a % of the net proceeds as the major creditor. Also is West Pier Trust still going to charge £100,000 to 250,000 rent per annum and if so what will they do with the money as they have been storing a kiosk which was meant to be reinstated for over 20 years !
If the spinning donut on a stick had actually attracted “Hundreds of thousands of visitors every year”, it would have been a viable business wouldn’t it?
Not necessarily. You haven’t taken into the running costs and debt repayments the previous operator were encumbered with.
They need to install a toilet on the viewing deck : how else are people going to go up there for 40mins drink in hand?? I’m amazed it’s not visibly leaking with big parties go up on NYE etc
The councils and government are purposely misappropriating funds and then saying the people have to foot the bill (whilst letting businesses off the hook). This is just another example of it, £51 million pounds written off when it’s needed more than ever. The eye has never been a popular attraction hence it’s debt, talk to anyone who lives and works in Brighton and they will tell you they wouldn’t care if it wasn’t there.
Couldn’t agree more!
As a resident, I can’t stand it. It ugly and has been more harm to our local economy than good…
That £51 million the Council so blithely wrote off could have paid to resurface roughly 50 miles of Brighton’s roads, which have to be some of the worst in the country. Certainly they are compared to the town I recently moved here from.
And what about the poor members of staff that got laid off before Christmas and didn’t get their wages?
That’s all forgotten about now!
Brighton & Hove City Council are an absolute joke and disgrace! Let’s write off £51m and let the tax payer sort it
Brighton doesn’t need a bar that rotates into the air, and back down again. It needs a council that knows what it’s doing!