Pier owners find solace in holding on

The grade II*-listed landmark was placed up for sale for the first time in more than 25 years last year for an undisclosed guide price.

Its owner, the Noble Organisation, has now announced it is withdrawing its offer and said the pier forms part of the long-term plans of the group.

In a statement, the company said: “Last year’s marketing exercise generated a great deal of interest in the pier and a number of substantial offers.

“However, a change in strategy led us to conclude that the pier will now form part of our longer-term group plans.”

Noble, which has owned the structure since 1984, has invested some £35m in the 113-year-old pier, which is also known as the Palace Pier.

It is regarded as one of the UK’s most visited places, with 18 themed attractions and rides, two amusement arcades and retail and entertainment outlets.

Celebrities such as Greta Garbo, Grace Kelly, Winston Churchill and Clement Attlee have all paid a visit, as have modern-day icons such as The Who and the Arctic Monkeys.