Blackpool North Pier sold to Okken
The London-based investor in leisure assets has acquired the town’s oldest pier from the Sedgwick family.
Okken, headed up by chief executive Paul Cooper, said the grade two-listed North Pier in Blackpool, which was built in 1863, “exemplifies the kind of business we are built to own: distinctive, well established, full of character, and best served by patient, attentive stewardship.”
A prime example of Victorian architecture, the pier features a 1,465-capacity theatre, an amusement arcade, a two-tier carousel, and multiple cafes and bars.
The Sedgwick family purchased the 145,300 sq ft property in 2011 for £140,000, according to HM Land Registry files.
Since then, it has conducted a series of improvement works, including a 2020 refurbishment of the 500-capacity Bloom Bar. A planning application has also been lodged for a substantial refresh of the pier’s Merrie England Bar.
The Sedgwick family owns Blackpool’s two other piers.
Avison Young advised on the sale.
Why are they selling it and how much money are they selling it for?
By Ella
Reduce entrance fees for 2 adults 0 children .
By Lizzi
Why are you selling north pier to okken .I thought you would keep it. How much you selling it for and why .we British people should keep our property in our country.
By Josie Waldron
Josie. Okken is a British company based in London. Best wishes, Dan
By Dan Whelan
I hope the new owners keep it in the traditional pier style its in now and not pack it with rides and amusements like the other 2 piers
By Adrian Halliwell
This Pier will drain every penny you have. The income from the pier is only a few months a year yet repair costs are every day. 10 million is a drop in the sea, especially when a storm comes along. The Pier is a venture with low money in with high expenses. This is why the pier has been sold. Normally it was the other two piers that paid for north pier Losses. I wish you all the very best.
By I hope you make it