Mon, 02 Dec 2013 | BUSINESS SALE
Paignton Pier has been placed on the market for about £2 million. It is to be sold as a going concern, with its arcade, and ice cream and sweet shops.
Owner Mitchell Leisure has brought in property sellers from GVA who said they had trouble pricing the “iconic structure”. Nonetheless it has already attracted interest from buyers.
Mitchell Leisure bought the pier in 1994, before undertaking a large scale refurbishment to improve it. Today it has 15 concessions. A major structural fault in one of the pier’s supporting columns was discovered in 2008, and had to be repaired quickly.
The 238 metre pier originally opened in June 1879, having been designed by architect George Soudon Bridgeman and funded by Arthur Hyde Dendy, a local barrister. It had to be rebuilt after it was destroyed by a fire in 1919, however.
The buyer will have to maintain the public right of way on the pier’s pedestrian beach underpass.
There are a limited number of piers still standing, and so the sale presents a unique opportunity. The pier makes up a considerable amount of leisure trade in the area and so is important to the local economy.
GVA director Richard Baldwin said: “Paignton Pier is an iconic structure, which has been a popular visitor attraction on the English Riviera for millions of people for more than 130 years.”
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