Swansea’s Pleasure Island under agreement; revitalization, public access planned

A well known local island is under agreement and the new owner of the property has big plans.

According to broker and Swansea Selectman Christopher Carreiro, 469 Ocean Grove Avenue, Swansea, more commonly known as Pleasure Island, has been placed under a Purchase and Sale Agreement by the attorney. Carreiro states that the buyer is a Swansea resident, real estate investor and business owner, who currently owns and operates multiple successful restaurant establishments in the area.

“The Buyer is presently conducting extensive due diligence and is developing a marketing and rebranding effort that will likely result in the renaming of this beautiful island.”

The new yet to be named buyer plans on putting a sizeable amount of money into the property.

“It is the intention of the buyer to responsibly rehabilitate and revitalize Pleasure Island’s existing infrastructure, with a multi-million dollar investment, as a banquet facility and a place that will enhance and compliment Swansea’s Waterfront Revitalization efforts. The buyer is keenly aware of the tight knit community in our Ocean Grove neighborhood and is absolutely committed to mitigating any concerns of community members in connection with this initiative. Lastly, the buyer understands and empathizes with the community’s desire to preserve access to Swansea’s waterways and intends to allow public access to the island.”