A seafront tourist attraction which closed suddenly after facing a series of financial problems has been bought by a hospitality chain.

This follows a decision by Brighton & Hove City Council to release the debt in support of the landmark’s future under Nightcap’s management. The decision allows both the continued operation of this important Brighton attraction, which brings hundreds of thousands of visitors to the sea front every year, as well as representing an exciting step forward for Nightcap.

This expands their portfolio to 46 venues, including renowned brands such as The Cocktail Club, Luna Springs, Dirty Martini, and The Piano Works, Nightcap is proud and excited to bring more great hospitality to this vibrant seaside city.

Under this agreement, Nightcap takes over the remaining 115-year lease of the i360, a site recognised as one of the world’s tallest moving observation towers. The i360 is a popular, well established hospitality venue and iconic attraction with more than 250,000 annual visitors.

The venue has more than 20,000 square foot of hospitality trading space including multiple bars, events spaces, cafes and entertainment areas. In addition, it has 75m of beach frontage, a beach bar, terrace, rooftop and beach operating space. The acquisition has been completed free of debt and any historic liabilities, allowing a fresh start for the venue post Nightcap’s significant capital investment.

Sarah Willingham, founder and chief executive of Nightcap and former Dragon on Dragons’ Den, said:

“We couldn’t be happier to welcome the i360 to the Nightcap family and delighted that Brighton and Hove City Council has paved the way for us to keep this iconic landmark open.

“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.”

Councillor Jacob Taylor, deputy leader of the Labour-run 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.”