Blackpool's North Pier goes up for sale
Blackpool’s North Pier is up for sale.
The Sedgwick family, who bought the town's North Pier in 2011, have appointed a global real estate advisor to find a buyer for the resort’s 162-year-old attraction.
Owner Peter Sedgwick bought Central and South piers for around £8million in 2015, but there is no suggestion that these are to be sold. The family said they have “chosen to focus our attention on the wider portfolio, including Central and South Piers”.
Avison Young has been appointed to market the resort’s Grade II-listed North Pier, which it says offers a “unique opportunity for investment and development in a multi-faceted family entertainment destination”.
The pier currently employs 10 full-time, three part-time, and approximately 40 seasonal staff.
How much do the Sedgwicks want for the pier? There is no price tag at this stage, but their agents say they are open to “sensible offers” for the fully equipped freehold attraction.
“A well-loved landmark”
Situated on Blackpool’s busy promenade, close to the Tower, North Pier is one of the UK’s most historic and well-loved seaside landmarks, retaining its original Victorian features.
North Pier was the first pier built in Blackpool in 1863 and has been under the same family ownership for the past 14 years.
The Pier was badly damaged in storms in 2013, which cost about £1million to repair and shut the pier for five months.
Directors for Northern Victorian Pier Ltd, said: “Bringing North Pier to market is a decision we’ve made with a heavy heart.
“However, following the events of the past few years, we’ve chosen to focus our attention on the wider portfolio, including Central and South Piers.
“Our passion for North Pier has never wavered and we have continued to invest in it throughout the challenges of COVID.
“There remains a fantastic opportunity to enhance the visitor offer, particularly through the proposed refurbishment of the former Merrie England Bar, and to shape a pier that’s ready for the future.”
Richard Baldwin, director, Leisure at Avison Young, added: “Blackpool North Pier is a rare and exciting opportunity to acquire a prominent, multi-faceted family entertainment attraction in one of the UK’s flagship seaside destinations.
“With its mix of leisure, entertainment, and food and beverage uses, combined with clear potential to further develop and enhance the existing offer of the Merrie England Bar, the asset presents both immediate income and long-term growth opportunities.
“We expect strong interest from a wide range of investors and operators keen to capitalise on Blackpool’s enduring popularity and ongoing regeneration.”
Chris Webb, MP for Blackpool South, said: “Today’s announcement regarding the sale of Blackpool North Pier brings both concern and opportunity.
“As the local MP, I want to assure the residents of Blackpool that I am committed to protecting this iconic landmark for future generations.
“The pier is not just a structure; it is a vital part of our community’s heritage and identity.
“It is essential that any new ownership prioritises its preservation and continued accessibility, ensuring that future visitors can enjoy its rich history and vibrant atmosphere.
“Together, we can safeguard this treasure for the enjoyment of our children and grandchildren.”
“Unique investment opportunity”
The listing by Avison Young says: “This freehold investment opportunity comprises a diverse range of attractions located directly on the pier, including the Joe Longthorne Theatre, an amusement arcade which includes an Adult Gaming Centre, a two-tier Victorian carousel, electric train and a variety of cafes, takeaways and bars.
The pier operation is primarily owner operated and managed in-house, except for select concession areas.
The freehold also benefits from a premises licence, an adult gaming licence, and a gaming machine permit. Further development opportunities include the proposed redevelopment of the Merrie England Bar, with a planning application currently pending for renovation works to enhance and modernise the space.
For further information, you can view the brochure here.
Enquiries should be directed to Richard Baldwin, Avison Young: [email protected]