Landmark UK island goes on the market for £2 million

An island off the south coast of England is up for grabs if you are in a position to make offers of £2 million or more. Drake’s Island is located off the Plymouth coast and has an interesting history behind it. The island settlement spans 6.4 acres, and there have been several historic goings on there, particularly during the English Civil War in the 1600s.

The potential buyer would have the opportunity to produce tourist-generated income through several different streams”, with the island coming with planning permission for a 43-bed hotel conversion. The island is being advertised by London-based estate agent Carter Jonas, which has been instructed by Kirker & Co, receivers of the island’s current owner, Morgan Phillips’ company, Plymouth Sound Properties Ltd, to sell the landmark with offers in excess of £2 million.

The island is named after Sir Francis Drake, as it was the spot where he started his journey to circumnavigate the world in 1577.

Its role in protecting England from foreign attacks was vital right up until World War II, historians say. However, it was handed back to the Duchy of Cornwall from the Ministry of Defence in the 1960s.

According to the brochure, the island previously played host to guided tours, private tours, on-site location filming, adventure days and theatre performances, which generated considerable income.

“The island’s unique combination of heritage assets, natural environment and distinctive setting provides strong potential for tourism, education, leisure, events and commercial activities,” the brochure reads.

Ali Rana, head of national investment at Carter Jonas, told The Independent: “Drake’s Island is one of the most remarkable development and regeneration opportunities to come to the UK market in recent years. With planning consent already secured for a hotel and a setting shaped by centuries of history, it offers investors an exceptional platform to create a truly landmark destination.

“Opportunities to acquire an entire private island are exceptionally rare, and rarer still, one that lies just minutes from the mainland, combines more than 400 years of history with over 30,000 sq ft of historic buildings, and offers the potential to create one of Britain’s most extraordinary private homes.

“We expect interest from UK and international investors, hoteliers and private buyers alike.”

Meanwhile, the property listing describes it as a “historic fortified military island with a total of c. 30,000 sq ft of disused accommodation”.

The island was previously put up for sale for £6 million back in 2018. It was then purchased by Morgan Phillips, who planned to open the island to the public with a museum and heritage centre, thirty years after it had previously closed.

In 2020, Drake’s Island received its first public visitors since 1989, when a one-off public tour was organised to raise money for St Luke’s Hospice.