The Palace Pier was built to replace the Chain Pier and the building of it started in 1891, five years before the Chain Pier finally collapsed. A lot of people think it was built in the same location as the Chain Pier when infact the Palace Pier was built slightly to the west of the Chain Pier about two beaches apart.
The picture here shows the remains of the Chain pier and the surviving Palace pier and remains of the West Pier in the background.