London: For the first time, a super-yacht with its own functioning volcano, floating tropical islands and a huge helicopter landing pad will soon be cruising the oceans.

The multi-million pound vessel, dubbed the 'Tropical island Paradise', has been designed by British boat builders Yacht Island Design, from Derby, Daily Mail reported.

The extravagant 295ft ship boasts a towering volcano with a cascading waterfall which feeds the swimming pool.

Studio director Rob McPherson at the Derbyshire firm, who have also created the Streets of Monaco super-yacht, said, 'The exterior was designed to give the impression of waves breaking around a volcanic island, whilst maintaining the look of a contemporary yacht design.

"It comes with its own private beach cove and a waterfall cascading down from a volcano. This design centres on a secluded island paradise, with elements inspired by the islands of the Caribbean, Indian Ocean and Polynesia. It is set to be a big hit when it comes onto the market."

The lavish yacht can accommodate up to 10 guests and can travel along at a top speed of 15 knots.

McPherson added: "We had two reasons for designing such a boat. The first being that it's good fun, and secondly the current market is pretty saturated with designs that look fairly similar.

Inside the huge, towering volcano is a cinema, library, games room, gym, spa and VIP suites, including an owners pad spread over two decks, the report said.