You can buy your very own Scottish Island for less than the price of a one-bedroom flat in Chelsea – provided you don't need immediate accommodation.

Balnagowan Island, a 36 acre patch on the east side of Loch Linnhe between Oban and Fort William, is on the market for offers over £395,000.

But although the island has planning permission for holiday accommodation in the form of a bothy, the only inhabitants to date have been cattle taken there, via a sandy bay, for grazing.

The island, which the agent CKD Galbraith says "enjoys magnificent sea loch views on all sides as well as an aspect over lush green pastures and heather covered hills in the distance", benefits from a mild climate thanks to the Gulf Stream.

Wildlife in the area includes red deer, seals, otters, and a wide range of birdlife and flora, and the RSPB has an interest in protecting bird and animal life on the island. There is an abundance of excellent fishing available plus a fresh water spring on the island.

Dominic Wedderburn of CHD Galbraith's Stirling office says the island would be perfect for someone wanting a private retreat. The mainland is nearly a mile away to the east and the nearest sizable town – Fort William – is 20 miles away.