Four friends bought deserted island in Florida for £50K and turned it into a paradise worth £11 million

Look, we’ve all been there at drinks when you and your mates have come up with a ‘perfect’ plan to chip in on something together.

You know, like if you all put in some cash towards a holiday or that if you won the lottery you’d do up some flats together. And let's be honest, both seem as likely to get out the group chat as the other.

But these four friends have put all our failed plans to shame as they bought a whole island. Just off the coast of Tampa, Florida, they bought the deserted Pine Key Island for about $65,000 (£51,800) back in 2017.

It was once known as Beer Can Island by Tampa locals and was a popular spot for parties, known for being the home of various concerts, weddings and other smaller events.

They bought the island for less than £100k. (Judge PR)

Basically the ‘fantastic four’ they’ve worked for the past six or seven years to turn the place into a paradise - clearing it of any beer cans.

Renovating the nine acres of land and adding a little more luxury, the group installed bathrooms, built fancy cabanas with thatched roofs, set up a full bar and even added a members-only water slide.

And after putting in quite the graft, the island is now worth over $14 million (£11 million+).

One of the island’s owners, Cole Weaver, spoke about their decision to sell it: “When we bought the island, I think we had a lot more intentions with the island.

“Being able to build a restaurant on the island and do some zoning issues that we’ve been going through.”

They've worked on the island. (Judge PR)

Now the island has a much, much, higher price tag there’s understandably a bit of worry that it will no longer be accessible for locals.

And Weaver gets that there’s a fear there but added that it’s just the right time for him and other owners to move on.

“I know Tampa Bay is a little nervous about the potential new buyer, but I think the owners are ready to take the next step in [our] lives and move forward,” he added. “We’ve tried to do a lot for the Tampa Bay area and keep it public.”

Making for quite the investment for them, they also recognise that there could be some mega ambitions for potential buyers of the island.

The press release for the sale reads: “While historically recognized for hosting events, Pine Key is equally positioned as an exclusive VIP property, providing a perfect setting for either private sole or corporate ownership.”