Drake Island: A Unique Investment Opportunity with Historic Charm.
Drake Island, a charming 6.5-acre island located just 600 yards off the coast of Plymouth, is now on the market. Formerly a prison, this historic island has received planning permission for a 43-room hotel, presenting a rare opportunity for potential buyers.
Currently listed with real estate marketing firm Carter Jonas, Drake Island offers an extraordinary chance for development. Ali Rani, a partner at the firm, emphasized the island’s “heritage and beauty,” making it an ideal candidate for a well-executed development project.
Morgan Philips, a local entrepreneur from Plymouth, is the current owner of Drake Island. Philips initially planned to build two hotels, a museum, and a wellness center on the island. However, he is now seeking someone to take over and realize these ambitious dreams more swiftly.
“I hope to pass the baton to someone passionate about the island’s environment and capable of unlocking its potential,” Philips stated.
Drake Island boasts a rich history, having served as a prison during the reign of King Charles II in the 1600s and later as a military fort in the 1900s. In the 1960s, the island transformed into an adventure center, where a young JFK Jr. learned to sail on Plymouth Sound.
After decades of closure, Philips reopened the island to the public, offering guided tours that delve into its fascinating history. Visitors can enjoy breathtaking views of Plymouth and Cornwall from the island’s highest point, making it a perfect photo opportunity. The island also provides a unique “spiritual experience,” where guests can hear stories about its infamous past residents, recent sightings, and unexplained occurrences, led by a certified spiritual guide.
Drake Island’s website outlines a proposal for a “cozy boutique hotel” within the former Governor’s barracks, aimed at offering an affordable yet charming lodging experience. The island features over 30,000 square feet of unused buildings, many of which highlight its historical significance.
Carter Jonas stated, “Drake Island is earmarked for heritage regeneration, with plans for a new hotel and associated visitor facilities, as well as marine/natural environment research and development. The island benefits from existing planning consent for redevelopment for hotel use, including the conversion of historic buildings, pier renovation, and infrastructure works.”
With its rich history and stunning location, Drake Island is a unique investment opportunity for those looking to develop a distinctive hotel destination. The island’s combination of heritage and development potential makes it a prime candidate for a visionary buyer ready to bring new life to this historic gem.
For more information on this exciting opportunity, visit Carter Jonas’ listing and explore how you can become part of Drake Island’s storied history.
