The Redcar Pier scheme was financed by the sale of shares and a donation from the Earl of Zetland.

[4] The first pile was ceremonially driven into the shale rock by the leader of the Redcar Pier Company, Rear Admiral Chaloner of Guisborough.

[2][4][5] After the death of Lord Zetland earlier, the pier was initially opened by Mrs Dawson of Weston Hall.

The pier length was necessary to achieve a depth of 10 feet (3.0 m) of water at low tide next to the landing stage.

[2][8] In 1885 the paddle steamer SS Cochrane damaged and carried away Redcar Pier's landing stage.

A blue plaque on a seafront brick wall on the Esplanade indicates the site of the former Redcar Pier.