In uplifting news for Brighton, hospitality operator Nightcap has acquired the Brighton i360 Tower.
The news comes after the 162 metre tall tourist attraction closed in December 2024 following financial difficulties.
Nightcap has now taken control of the structure's 115-year lease.
The seafront tower went into administration in November after being plagued with financial problems, with Brighton & Hove Council writing off the attractions £51m debt in January.
The acquisition has been completed free of debt and any historic liabilities, allowing a fresh start for the venue after Nightcap’s significant capital investment.
The attraction welcomes in excess of 250,000 annual visitors.
Sarah Willingham, founder and CEO of Nightcap, said:
"We couldn't be happier to welcome the i360 to the Nightcap family.
"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."
Cllr Jacob Taylor, deputy leader of the city council, said the sale was the "best option" for Brighton.
The i360 acquisition expands Nightcap’s portfolio to 46 venues including the Cocktail Club and Dirty Martini brands.
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