Plymouth’s Iconic Drake’s Island Sold

The island in Plymouth Sound from which Sir Francis Drake set sail to circumnavigate the globe in 1577 has been sold to the boss of a local specialist construction company, a local press report says.

The 2.6 ha Drake’s Island has been on the market since late 2018 with an asking price of £6m, although the eventual selling price has not been disclosed. The island has been bought by Morgan Phillips of Guardian Industrial UK (GIUK). It currently has planning permission for use as a hotel and spa, although Phillips has reportedly said that he wants to preserve the island’s heritage and open it to the public.

There have been a number of plans to use and develop Drake’s Island over the years which have come to nothing at the end of the day. However, the island is in many ways one of the most iconic locations in British history and of as much or more significance than, say, the Tower of London or Buckingham Palace. It is a truly unique piece of real estate which, if developed sensitively and imaginatively, could have a great deal of potential.

What is DealMakerz Prime?

In depth stories

Want to know the story behind Britain's latest property mogul? Why a company is going bust? Our coverage goes beyond run-of-the-mill news on key real estate issues.

High powered community

Our subscribers are made up of the most influential Founders and CEO's in UK property. Gain a competitive edge and get informed - read what they read.

Exclusive guest articles

Understand exactly what the most senior figures in UK property are thinking. Exclusive opinion articles from powerful real estate influencers that move markets.

Source Plymouth Herald
You might also like