Hastings pier has just been sold to a private investor for a reported £50k. This has come after £12m of public money was spent on it, and locals are furious.
The pier was devastated by a huge fire in 2010. It was rebuilt with over £12m from the heritage lottery fund and almost £600k from selling shares. It reopened in 2016. In 2017, it won the RIBA Stirling Prize – the “biggest prize in British architecture”.
Pier for sale
But later that year, operators Hastings Pier Charity went into administration. The pier was put up for sale. A group of locals calling themselves Friends of Hastings Pier (FOHP) set about the mammoth task of keeping it in community ownership. The group crowdfunded almost £500k and developed a business plan to:
keep the freehold of the Pier owned by the community, whilst transforming it into a profitable and sustainable business.
Pier sold
On 15 June, shareholders were informed the pier had been sold to Abid Gulzar, the owner of Eastbourne pier. The price was reported to be £50k.
https://www.thecanary.co/uk/2018/06/17/ ... r-peanuts/
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