Brighton's well-known Palace Pier is now put up for sale at an undisclosed price after months of rumours about its future.
The pier is 126 years old and officially protected as a Grade-II listed site.
Potential buyers are being told they would be purchasing “a piece of history.”
The pier, built in 1899, has been owned for about ten years by the Brighton Pier Group (BPG), founded by businessman Luke Johnson, which purchased it for £18 million.
It has food stalls, 19 amusement rides and two large and noisy arcades with more than 300 machines.
Anne Ackord, head of BPG said in a statement, noting, "Of course there is an element of sadness. It has been a difficult decision but we have shareholders and we have decided that our duty is to them. It's not just a national treasure but a Brighton treasure as well. You are buying a piece of history," as per ExpressUK.
In its official fillings, BPG explained that higher costs are partly due to government increases in the minimum wager and National insurance and party because fewer tourists are visiting Brighton overall.
As per the reports, the pier will likely be sold for several millions pounds and the sale will be finished by summer.
