Top beardy entrepreneur and Catweazle looky-likey, Richard Branson, has announced his latest and most ambitious business venture to date. An extraordinary scheme to find and develop the lost city of Atlantis.

A spokesman for Virgin said: ‘Now that he’s conquered space tourism with Virgin Galactic, Sir Richard is setting his sights on the mythical lost city and plans a new visitor experience once he’s discovered and redeveloped it for the modern age.’

It’s understood that the prank-pulling Tubular Bells bank-roller intends to extensively rebuild heavily water damaged areas and then complete a full revamp of the legendary sub-aquatic metropolis, in time to receive tourists by Summer 2022.

Planning documents show provision for the world’s first underwater Premier Inn and sites are already earmarked for Starbucks and McDonald’s, with strong rumours circulating that Spud-U-Like has bagged a key pitch just inside the city gates for a high-end dining restaurant .

Lenny Henry is currently in The Maldives taking an advanced deep sea diving course. His agent commented: ‘Len’s delighted and really looking forward to shooting the TV ad for Premier Inn.’