Nightcap Limited describes itself as an ‘award-winning multi-site hospitality operator’, founded by Brighton locals, Sarah Willingham – who appeared on the hit BBC show – and Michael Toxvaerd.
A statement from the company said it was ‘delighted to announce the addition of Brighton’s iconic i360 tower to its group’.
This comes after the £51million debt attached to the landmark was cleared by Brighton and Hove City Council at a recent meeting to allow the sale to proceed.
The attraction closed in December, leading to more than 100 job losses, following years of financial difficulties.
According to the new owner, it has taken over the remaining 115-year lease on the landmark ‘free of debt and any historic liabilities, allowing a fresh start for the venue post Nightcap’s significant capital investment’.
Former Dragon ‘couldn’t be happier’ with sale
CEO Sarah Willingham said: “We couldn’t be happier to welcome the i360 to the Nightcap family and delighted that Brighton & 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.
(Image: Emma J Crosby) “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.”
READ MORE: Brighton i360 owner to be revealed soon as debt cleared
Prospective buyer puts forward bid for the Brighton i360
Brighton i360: Seafront landmark shuts before Christmas
Who is Sarah Willingham and what is Nightcap?
The business mogul appeared on the 13th and 14th series of the hit BBC show in 2015 and 2016.
Nightcap has 46 venues and multiple brands including: The Cocktail Club; Tonight Josephine; The Piano Works; Blame Gloria; Escapologist; Barrio Bars; Nikki’s Bar; Disrepute; Luna Springs; Dirty Martini and Tuttons Brasserie.
Peter Kyle
MP reacts to news
Peter Kyle, MP for Hove and Portslade, reacted to the news.
He said: “Looking to the future I now see a fantastic seafront in our city.
“It is book-ended by the amazing Sea Lanes in Kemptown 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 to 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.”
Jacob Taylor
Deputy council leader ‘delighted’ by sale
Councillor Jacob Taylor, 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
West Pier Trust looking forward to ‘collaborative partnership’
Rachel Clark, Chief Executive Officer of the West Pier Trust, 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.”
Brokers wish new owners luck
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.”
Source link
[Featured]
[Just In]
