featured-image

Drake's Island off the coast of Plymouth, which was snapped up for £6 million just five years ago, is back on the market. The current owner, Morgan Phillips of Plymouth Sound Properties Ltd, is seeking offers for the 6.4-acre landmark in the Sound after deciding to sell.

The island, steeped in history and fortified, comes with approved plans for a luxury 43-bedroom hotel. However, it's being touted as a site with "many potential alternative uses". Mr Phillips, who took ownership in 2019, has since opened the island for various activities including tours, events, and even film shoots.



Read next: Body found in Jay Slater search on Tenerife Huge part of Devon city centre could become 20mph zone policed by cameras Mr Phillips had ambitious plans just 18 months prior, aiming to construct not one but two hotels, alongside a museum, heritage centre, and wellness facility. He also envisioned collaborations on environmental and marine initiatives. Back in 2020, he estimated the total development cost of the island to be between £17 million and £22 million, factoring in the purchase price, which was initially guided at £6 million, reports Plymouth Live .

Now, the freehold is up for grabs, with Ali Rana, head of national investment at Carter Jonas, remarking that "Morgan has taken it as far as he can and it is time for someone else to progress the future of the island." Carter Jonas has announced what it describes as an "extremely rare opportunity to purchase a consented development.

Back to Beauty Page