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After snapping up Necker Island in the Virgin Islands for a snip in 1978, Sir Richard Branson developed it into a world-class resort which has hosted the likes of Princess Diana, Oprah Winfrey and Steven Spielberg.

Everyone knows about Necker, but a much better-kept secret is Branson's other tropical island hideaway, this one in the stunning Queensland coastal town of Noosa, which he calls his "favorite place in Australia".

The heart-shaped 25-acre Makepeace Island in the Noosa River has been lovingly converted into an exclusive Balinese-style retreat with all the necessary amenities, including a pool, tennis court, theatre and two-storey open-aired Balinese wantilan for relaxing or gathering with friends and family.

Until now Makepeace Island has been reserved for the exclusive use of Branson and Brett Godfrey, the co-founders of Virgin Australia, but they have recently announced that they'll be renting it out to guests. Of course, indulging in the ultimate in luxury, peace and exclusivity doesn't come cheap: The tab is $8,000 per night for you and up to 21 of your closest friends.

I've boated past Makepeace Island on my way up the Noosa River and the good news is that, even if you don't have the budget to actually stay on Makepeace Island, you can still experience the magical surroundings of Noosa for a fraction of the cost.

What makes Noosa special?

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Richard Branson's other island hideaway - in Queensland, Australia -- opens to visitors originally appeared on Gadling on Fri, 30 Sep 2011 09:00:00 EST. Please see our terms for use of feeds.

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