Formerly owned by the late horse-breeding tycoon Robert Sangster, Jane's Harbour is one of the most luxurious properties of its type in Barbados. Sold by the trustees of Sangster's estate through London estate agent Savill's, it was marketed as a "once in a lifetime opportunity" to purchase "a spectacular beach-front property in Barbados".

A colonial-style villa on two acres of gardens, Jane's Harbour previously rented for over $6,000 a night in high season, but McManus may use it as his own private getaway.

"Jane's Harbour is in a transitional period and the new owners are not sure if they are going to rent or not, " said a representative of one holiday operator listing the villa on its website, in response to an enquiry about availability.

There will be plenty of room for McManus' friends and family to holiday in the sun.

Smack on Sandy Lane beach and built around a swimming pool, Jane's Harbour has nine bedroom suites sleeping 16 people in a main house, two detached wings and two cottages.

The villa will also be handy for the five-star Sandy Lane Hotel, which this December will host the World Golf Championships World Cup.

Desmond, McManus and others bought Sandy Lane in 1997 for £38m ( 55m), and have spend hundreds of millions developing it. A wellknown celebrity haunt, it was the venue for Tiger Woods' wedding.

Jane's Harbour joins a portfolio of luxury properties owned by the Limerick man.

The jewel in the crown is his new Martinstown mansion on a 630-acre estate near Kilmallock, Co Limerick, where he started his career driving a JCB. It has been estimated that McManus spent up to 100m last year building and fitting out the lavish 50,000 square-foot house, which is run like a hotel and includes a complete entertainment complex.

He also has a luxury lakeside pad outside Geneva, where he is a tax exile, as well as studs in Kildare and Newmarket. He has diversified from the currency trading business where he first built his fortune to make lucrative investments ranging from commercial property to football.

Along with racing tycoon John Magnier, McManus played a pivotal role in the bitter takeover battle for Manchester United. The Irish pair were estimated to have made a profit of over 100m last year when they sold their combined 28.7% stake to American Malcolm Glazer.

A sports fanatic and philanthropist, McManus famously pledged 63.5m for Ireland's ill-fated National Stadium.