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.”
No doubt it will have a barometric rise to profitability
Who said a Weatherspoons? I’m counting that one.
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!