A historic Scottish island owned by the brother of Cabinet Minister William Waldegrave is up for sale for more than #500,000.

The Earl Waldegrave is selling the 237-acre Eilean Righ near Ardfern in Argyll because he has inherited an estate in the South from his late father - and plans to concentrate most of his time there.

The Earl, whose brother William is the Chief Secretary to the Treasury, has owned the island for about five years and has mainly used it for holidays.

Eilean Righ, which has the remains of two Iron Age duns, was once owned by Sir Reginald Fleming Johnston, the tutor to Pu Yi, the last Emperor of China.

The island has no other inhabitants except 130 sheep and a herd of wild goats.

There are are two Victorian houses which have been restored, and the main building includes a large reception room known as the Emperor's Room, a sun room, billiard room and a studio.

Within a separate wing, there are three bedrooms and a bathroom.

The other property, a farmhouse, has two reception rooms, three bedrooms, studio and bathroom.

Eilean Righ - or King's Island as it is sometimes called, possibly after Danish Sea King Olaf who is said to have died in the area - lies in Loch Craignish, a few minutes by boat from the village of Ardfern.

The island has breathtaking views across the Sound of Jura to the Jura and Islay. It has 5.5 miles of shoreline and many beautiful coves and inlets.

The sale is being handled by Knight Frank and Vladi Private Islands of Hamburg.

''This island is a real gem. Islands like this come on the market only once in a while and we expect very keen interest,'' said Mr Colin Strang Steel of Knight Frank, Edinburgh.

''When you take into account its position and historical significance, it is a bargain and will attract potential buyers internationally.''