Drake’s Island in Plymouth Sound has been sold to local businessman Morgan Phillips, who hopes to expand hotel plans for the site.
Phillips’ development company Guardian Industrial UK has bought the island for an undisclosed fee off a guide price of £6m from businessman Dan McCauley, founder of Rotolok who acquired the island for £384,000 in 1995.
Plans to build a 25-bedroom hotel with a 120-cover fine dining restaurant, bar, conference facilities, spa and gym were given the green light by Plymouth City Council two years ago.
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