Historic UK island up for sale for £2 million

Drake’s Island, a historically significant fortress located off the coast of Plymouth, has been placed on the market for £6 million. The six-acre island, situated 600 meters from the mainland within Plymouth Sound, boasts a rich tapestry of historical significance and architectural features. It includes an intricate system of underground tunnels, a pier, and remnants of Tudor-era fortifications. Named after the famed Elizabethan explorer Sir Francis Drake, who embarked on his global voyage from its shores in 1577, the island has witnessed numerous pivotal moments in maritime history. The island has served multiple roles throughout its storied past, functioning as a prison, a religious center, and a sanctuary. Its strategic importance led to its fortification against foreign threats, notably from French and Spanish forces during the late 16th century. This defensive legacy continued into modern times, with the island remaining under military control until the 1960s when it was returned to the Duchy of Cornwall. Today, it stands as a symbol of both historical resilience and cultural heritage. Aidan McCauley, representing Rotolok, the current owner of the island, shared insights into the island’s ownership and future aspirations. He noted that his father, Dan McCauley, acquired the island in the 1990s and had a deep connection to Plymouth, particularly through his involvement with Plymouth Argyle Football Club. His vision for the island centers around revitalizing its use for the benefit of the community and the broader region. The McCauleys have expressed their commitment to pursuing options that align with this vision, emphasizing their passion for transforming the island into a thriving asset. The island currently holds planning permission for a luxury hotel and spa, which would involve the renovation of existing structures. This development proposal highlights the potential for the island to serve as a hub for tourism and leisure, complementing its historical allure. John Kinsey from property agency Jones Lang Lasalle underscored the uniqueness of the opportunity, noting that the sale of the island as freehold opens the door to diverse possibilities for its future utilization. In addition to its historical value, the island presents a compelling investment proposition. According to Carter Jonas, the estate agents handling the sale, the island offers a rare chance for investors to acquire a private island just minutes from the mainland. The property comes with planning consent for a 43-bed hotel, along with the potential for generating income through guided tours, private excursions, on-site filming, adventure activities, and theatrical performances. In 2023, such activities contributed a gross income of £590,000, illustrating the viability of the island as a revenue-generating asset. Ali Rana, head of national investment at Carter Jonas, highlighted the rarity of acquiring such a property, describing it as an exceptional platform for creating a landmark destination. The island’s unique blend of historical assets, natural beauty, and strategic location positions it as a prime candidate for development. As the sale progresses, there is anticipation for interest from a range of potential buyers, including UK and international investors, hoteliers, and private individuals seeking to capitalize on the island’s distinct attributes.