Property: For sale - Herm Island

This is Herm Island in the Channel Islands, 70 miles from the south coast of England. It’s a mile-and-a-half long and half-a-mile wide and its 40-year lease is up for sale for £15m. Tempted? Although you’re not simply buying an island retreat: it’s a thriving business concern. Self-catering cottages, a campsite, a three-star hotel, restaurants, a tavern, log cabins and shops: oh, there’s work for you and your staff of 80 to do Photograph: Martel Maides/Knight Frank/Martel Maides/Knight Frank

Herm is historically rich. It had its first settlers in the Neolithic age and was part of the Duchy of Normandy prior to William the Conqueror's invasion of England in 1066. For three centuries from the mid-1400s it was a sporting reserve and owned by a succession of “seigneurs”. It was occupied by the Nazis from 1940-45, who left it derelict. The lease was then taken on by the late Major Peter Wood and his wife, who began a long-term period of restoration and regeneration Photograph: Martel Maides/Knight Frank/Martel Maides/Knight Frank

Self-sufficiency and sustainability are promoted on the island. Although millions have been spent upgrading and improving Herm's infrastructure and facilities, its natural beauty and pure white beaches remain. Marram grass covers the sand dunes, 80 acres of undulating farmland dominate the island and there are rugged cliffs in the south. The flora and fauna are more typically associated with the Mediterranean Photograph: Martel Maides/Knight Frank/Martel Maides/Knight Frank

Millions have been spent installing electricity, a water supply and a sewerage system, as well as a network of roads and paths. The island also boasts gardens, woodlands and large areas of restored farmland. Guest accommodation includes more than 20 self-catering cottages, an 80-pitch campsite, eco-friendly log cabins and the harbour-side 40-room White House hotel (above). The Mermaid Tavern is the island’s only pub, so don’t get yourself barred. There’s also a 50-seat restaurant Photograph: Martel Maides/Knight Frank/Martel Maides/Knight Frank

This would be your gaff. The house and fortified keep, which has been converted into three apartments, form a family enclave. There is also a swimming pool and ornamental gardens, and access to private woodland. If any more sweeteners are needed to tempt you, consider that the island is under the jurisdiction of Guernsey and shares its beneficial tax regime - income tax is a flat 20%, and there is no capital gains tax, no inheritance tax or death duties and no VAT Photograph: Martel Maides/Knight Frank/Martel Maides/Knight Frank

You may struggle to raise £15m, but a visit is feasible. All arrivals are via Guernsey, which is a short flight or ferry ride from the UK and France. It’s not far to go for an island that looks more exotic than it has any right to seeing as it’s stuck in the English Channel. But as the Major once put it: "If I was asked to design the perfect island, and place it anywhere in the world, Herm would be the island and this is where I would put it." Photograph: Martel Maides/Knight Frank/Martel Maides/Knight Frank