A Brighton seafront property that was originally advertised at £3.7 million has seen its asking price substantially reduced.
The Lanes Hotel at 70-72 Marine Parade is now being promoted with a guide price of £2.5 million, representing a £1.2 million decrease from its initial marketing figure when it first entered the market in late 2024.
The Grade II listed establishment, which provides views of Brighton Palace Pier, has been under the ownership and management of the Beard family since 1997.
The hotel initially launched on the market in November 2024 through specialist hospitality agency Fleurets and is now being handled by Savills.
The accommodation comprises 33 rooms with private bathrooms distributed across three interconnected Victorian townhouses.
Facilities at the property include a fully licensed bar, breakfast and dining areas, guest lounges, a private terrace, and off-street parking provision.
According to Savills, the hotel extends to more than 15,500 square feet and has remained within a single ownership for approximately 30 years.
The property occupies a prominent position in the Kemptown district of the city, situated close to Brighton College, the Royal Sussex County Hospital, and the central area.
Savills marketing materials describe the venue as a prominent seafront establishment with original period features including balconies facing the English Channel.
The surrounding coastal area is currently subject to regeneration programmes.
When announcing the 2024 sale, the Beard family indicated the decision stemmed from altered family circumstances.
A family representative stated that the owners had enjoyed more than two and a half decades of running the establishment and creating memorable experiences, but changes in their personal situation had prompted the difficult choice to sell.
The spokesperson expressed confidence that the next owners would have an excellent opportunity to build upon the foundation established and acquire a distinctive property overlooking the seafront and pier, which seldom becomes available.
Savills is inviting prospective purchasers to submit offers for the property, emphasising its established operational history and advantageous location along one of Brighton’s most recognisable stretches of seafront.