The Friends of Hastings Pier community group has paused its bid to acquire the town’s seafront landmark after owner Abid Gulzar set an asking price “many multiple times” that of the anticipated valuation figure. Let the battle of Hastings recommence
Plans put forward by the Friends of Hastings Pier community group to acquire the pier from owner Abid Gulzar have stalled, after the attraction was placed on the market for a figure “many multiple times” what the organisation had expected.
Gulzar announced his intention to sell the landmark last year, triggering a six-month moratorium period in which interested parties could submit bids due to the pier’s status as an Asset of Community Value.
“Over the last six months we have collaborated with many stakeholders as part of a working group that was set up by Helena Dollimore MP to try to secure the Pier for the community,” said a spokesperson. “Mr Gulzar has stated that he wants £4m which is many multiple times the valuation figure we have received from a real estate company that specialises in selling retail and leisure properties globally.”
“As such we have not progressed any further during the six month moratorium period but the Pier will still remain registered as an Asset of Community Value until 6 November 2028 and we would like to keep an open channel with the current owner should things change.”
The initial bid had received the “full support” of Hastings and Rye MP, Helena Dollimore, who told the Sussex Express the town was still “deeply angry” about the sale process in 2018, which saw Gulzar acquire the pier in a £60,000 private purchase agreement, despite Friends of Hastings Pier raising £470,000 of a £500,000 target.
“We will continue to lobby to ensure the Pier becomes the beacon of regeneration that it was intended to be, and brings jobs and tourists to our town,” added the group. “Hastings Pier is a wonderful space that we will work to preserve for future generations.”
Another battle for Hastings Pier
Friends of Hastings Pier said……. “We will continue to lobby to ensure the Pier becomes the beacon of regeneration that it was intended to be, and brings jobs and tourists to our town……
