Renting the island for a night costs $7,990 for up to eight guests and from $16,990 for 22 guests during peak season
The small, heart-shaped island, named Makespeace Island, includes a 500,000 litre lagoon pool, a 15-person spa, an outdoor cinema and room for up to 22 guests. All of its buildings and bures – or villas – were built in Bali and Java and then transported by ship.
Renting the island for a night costs $7,990 for up to eight guests and from $16,990 for 22 guests during peak season. But the rental is much better value is than the Virgin tycoon's other island, Necker Island in the British Virgin Islands, which costs about $50,000 a night.
However, prospective guests on the island, in the Noosa River near the popular holiday town of Noosa on Queensland's Sunshine Coast, have been told they may need to keep the noise down.
"Due to certain restrictions imposed by the regional council upon such residential accommodation, the hosts will advise you on arrival what is deemed permissible in relation to noise and partying," say the terms and conditions on the resort's website.
Sir Richard bought the island, formerly a 25-acre muddy patch called Pig Island, for just under $3 million in 2007. He and Brett Godfrey, the co-founder of Virgin Australia, have used the island for parties and holidays with family, friends and staff.
"When neither Brett nor myself are visiting Makepeace, we will make the island and its facilities available for others to enjoy the tranquillity of what is a very special place," Sir Richard said.
Sir Richard, who has described Noosa as his favourite place in Australia, said he intends to keep visiting the island two or three times a year.
"I'm British but I'm also an honorary Queenslander," he told a Queensland newspaper.
'Everyone knows how much I love Noosa ... Now I am encouraging people to come and see this beautiful part of the world for themselves." The Virgin Group has a strong presence in Australia, including plans revealed this week to spend more than $40 million on a new set of Virgin Active health clubs.
"With anything, we try to build the best," Sir Richard said. "We now have about 300 health clubs around the world; it is a very successful business for us, and I think in Australia the Virgin brand is very strong and the health clubs have been extremely well received."
