Fancy joining a group of select celebrities whose members include Richard Branson, Mel Gibson and Nicholas Cage? Each owns a private island somewhere exotic and now you could do the same, perhaps for less money than you might think.

A stunning 10-acre island in the Grenadines has just come on the market for $4million (£2.6million) through agent Grenadine Escape, having recently been valued at $4.75million. Surrounded by white powder beaches and clear waters with coral reefs, it’s a 25-minute flight from Canouan, and 60 minutes from both Grenada and Barbados.

The island is currently undeveloped but comes with outline planning approval for a boutique hotel and spa, although these approvals could be tailored to suit a private individual wishing to build a private residence.

One of the Caribbean’s most exclusive islands is nearby – Mustique. Also part of the Grenadines, Mustique’s most famous regular guest was the late Princess Margaret, one of group of royalty, entertainers and heads of state who have relished in the island’s idyllic privacy.

To understand the full step-by-step process to buying a property in Caribbean, collect The Overseas Guides Company’s ‘Caribbean Property Buying Guide’