For the globetrotting celebrity with cash to burn, nothing screams affluence quite like buying your own island.

For the globetrotting celebrity with cash to burn, nothing screams affluence quite like buying your own island.

But the volcanic outcrop of Lamb in the Firth of Forth offers neither sun-kissed beaches nor acres of palm trees. In fact, it's smaller than a football pitch, and consists entirely of jagged rocks that render it virtually uninhabitable.

So why has television psychic Uri Geller forked out £30,000 for the island, which doesn't even have a pier?

The spoon-bending entertainer, 62, purchased Lamb after noticing it for sale in a newspaper last year, claiming it possesses historical significance, mythological powers and possibly even mineral deposits.

Although it measures just 100 metres by 50 metres and despite the fact he had never visited the island, Geller said he felt "a strong instinctive urge" to buy it.

He added: "The more I delved into the history and the archaeological lore which surrounds it, the more certain I became that this is one of the most significant sites in Britain.

"This island has links to the Pyramids, King Arthur, King Robert the Bruce and the ancient kings of Ireland.

"I am a deep believer in synchronicity - the power of connections between things which are linked by forces we don't understand - and there are many clear synchronicities that come together on Lamb."

The island was previously owned by Brazilian-born internet entrepreneur Camilo Agasim-Pereira, who put it up for sale in November last year.

Adopted Scot Agasim-Pereira bought the title of Baron of Fulwood and Dirleton in 2000, and as part of the deal was bequeathed Lamb.

The original asking price was £75,000, but Geller was clearly able to bend the agent's arm, managing to negotiate the price down to £30,000.

Michael Yellowlees, partner at the law firm Lindsays, which represented Geller, said: "He is profoundly interested in the folklore and mystery which surrounds the island and its links to to other mystical sites within Scotland and further afield."

The island's mystical appeal rests on a claim that it lies on an ancient ley line, connecting it with Stonehenge, the Pyramids and the Knights Templar.

Another of the islands in the Firth of Forth, the Isle of May, is believed by some to be the final resting place of King Arthur.

A line, extended from the Isle of May through Lamb, will pass through Tara, the burial place of the ancient Irish kings.

Geller wrote on his website that he had always wanted to own his own island, in order to fulfil his "diabolic desire to be a James Bond villain".

He continued: "I knew I had to have it. Something is drawing me to the island. Perhaps my dowser's instinct has sensed rich mineral deposits or a crystal core to the rocks.

"And I love the idea of perching at the sea's edge, in serene solitude, watching the seals while I plan world domination.

"It would be the perfect site for a UFO signalling station."

But planning permission for his signalling station will almost certainly have to wait for the time being.

Lamb is designated as an RSPB reserve, a Site of Special Scientific Interest and a Special Protection area under European law, preventing any building from taking place.