Lifestyle Travel Richard Branson Opening Second Private Island Next to His Own Celeb-Favorite Retreat: Photos This spring, the billionaire businessman is set to open Moskito Island to the public, located two miles from his famous private paradise, Necker Island By Maria Pasquini Maria Pasquini Associate Editor, Human Interest - PEOPLE People Editorial Guidelines Published on March 22, 2021 06:31 PM Share Tweet Pin Email Photo: Virgin Limited Edition Sir Richard Branson is inviting the public to experience the luxury of staying at one of his private islands. This spring, the billionaire businessman, 70, is set to open Moskito Island, a 125-acre private paradise in the British Virgin Islands, to the public. It's located just two miles away from his beloved Necker Island, a strip of sand he purchased in 1978 when he was just 29 years old that has welcomed A-listers from Princess Diana to the Obamas. In addition to its pristine white beaches, the private island boasts a recreation area and a number of private estates, including Branson's own three-villa, 11-bedroom estate — which is already accepting reservations. Looking Back at Richard Branson's Private Paradise, Necker Island: From Princess Diana's Visit to Irma Devastation "Moskito Island is made up of a collection of luxury private villas (or estates as we call them) which can be rented by guests looking for the ultimate island hideaway with exceptional service, just like you'd expect from a 5=star hotel," the website states. The Branson estate can accommodate up to 22 guests, and additional villas are expected to open later in 2021. Virgin Limited Edition Virgin Limited Edition Looking Back at Richard Branson's Private Paradise, Necker Island: From Princess Diana's Visit to Irma Devastation Branson first acquired Moskito Island in 2007. Prior to the purchase, the property had been home to a small resort and restaurant, which opened in the mid-1960s. Renovations began in 2010, and "ownership of the island is now shared amongst a number of individual homeowners," according to the private island's website. Virgin Limited Edition Virgin Limited Edition And while Branson's recently launched Virgin Voyages cruise line is adults-only, Moskito Island is kid-friendly. "Children are more than welcome on Moskito Island and we can make special arrangements for your kids including tailored meals and activities," the website states. "There are plenty of inflatables at the pools and the island is a fun environment for children to play. Some of our rooms can be arranged with twin beds, and our very young guests can be accommodated with their parents." Want to get the biggest stories from PEOPLE every weekday? Subscribe to our new podcast, PEOPLE Every Day, to get the essential celebrity, entertainment and human interest news stories Monday through Friday. Virgin Limited Edition Of course, living in the lap of luxury doesn't come cheap. Rates to book out all 11 rooms of the Branson Villa begin at $25,000, while the cost of booking four rooms is $12,000. Smaller parties can also snag a reservation, and the single-occupancy rate is 25 percent less than the standard double-occupancy rate. The private island is currently taking reservations for Thanksgiving 2021, as well as the December holiday season.