Historic Drake’s Island Near Plymouth Hits the Market Again, Offering a Unique Development Opportunity After a Five-Year Ownership

Hey there! Have you heard about Drake’s Island, that historic gem just off the coast of Plymouth? Well, it’s up for grabs now—only five years after it was bought for a whopping £6 million.

This little island, named after the legendary explorer Francis Drake, spans a mere 6.5 acres and sits 600 yards from the Plymouth shore.

The island’s currently on the market through property experts Carter Jonas.

Ali Rana, a partner at the firm, describes it as an ‘extraordinary opportunity’ for potential buyers. With its rich heritage and stunning beauty, he believes it’s perfect for top-notch development.

The island even has planning permission for a 43-bed hotel, so the possibilities are endless!

Who’s Selling and Why?

The island’s current owner, local businessman Morgan Philips, initially had big dreams—two hotels, a museum, and a wellbeing center.

But now, he’s ready to pass on the project to someone who can bring these visions to life sooner.

Philips hopes the next owner will be as passionate about the island’s unique charm and potential as he is.

A Glimpse Into History

Drake’s Island has a fascinating past.

In the 1600s, King Charles II used it as a prison, and the military took over in the 1900s. By the 1960s, it was transformed into an adventure center, where even young JFK Jr. learned to sail. After years of being closed off, Philips reopened the island to the public.

Today, visitors can delve into its history on a two-hour guided tour.

What Can Visitors Expect?

The island’s website promises a fresh view of Plymouth and Cornwall from its highest point, making it a fantastic photo op.

There’s also a quirky ‘spirit experience’ where visitors can hear eerie tales from a certified ‘spirit guide.’

Future Plans and Potential

Under its ‘Future Plans’ section, the island’s website hints at a cozy, budget-friendly hotel in the old Governor’s barracks. Carter Jonas notes that the island boasts over 30,000 sq ft of unused space, much of which underscores its historic significance.

There are plans for a heritage-focused redevelopment, including a new hotel, revamped jetty, and infrastructure improvements.

So, if you’re dreaming of owning a piece of history with big development potential, Drake’s Island might just be the opportunity you’re looking for!