In the past few years, advanced technologies such as floating offshore wind turbines (FOWT) and wave energy converters (WECs) have been developed. As demonstrated by the innovative hybrid platform Poseidon, the feasibility of combining floating wind turbines and wave energy converters has already been explored. Furthermore, diversification of offshore renewable energy technologies reduces power fluctuations and lowers investment costs. This paper focuses on the development of an integrated wind and wave platform and the creation of a numerical model to evaluate the system performance for the Belmullet site. The novel concept consists of the semi-submersible Nautilus platform, integrated with four-point absorbers. A hydro-servo-aero time-domain model, combining WEC-Sim with an in-house wind turbine model, simulated the device motion and estimated the power generated. The performance of the Wave Energy Converters (WECs) was optimised based on their Power Take Off (PTO) damping. Finally, the hybrid concept was compared with the simple FOWT concerning the energy produced, Levelized Cost of Energy (LCOE) and hydrodynamic stability. The hybrid configuration proved to be a promising solution with 10% lower LCOE and improved hydrodynamic stability evaluated in terms of nacelle acceleration and platform pitch motion. These results show that wind and wave could be one of the best solutions for the future of the marine energy sector and the energy transition.