Royal Caribbean is spending $275m on the perfect private island

The largest freshwater pool in the Caribbean, the tallest waterslide in North America and a hot air balloon offering aerial tours of the Bahamas are among the new features to be unveiled on CocoCay, Royal Caribbean's exclusive private island after a $260.5m million renovation.

Dubbed as the cruise line's "most ambitious project yet", the revamped island is the first in Royal Caribbean's Perfect Day Island Collection - a new series of exclusive private islands to be unveiled around the world, including in Asia, Australia and the Caribbean.

At CocoCay, adrenaline junkies will enjoy the island's Thrill Waterpark, housing the largest wave pool in the Caribbean and 13 waterslides (more than any other water park in the Caribbean), including the record-breaking 135 foot Daredevil's Peak, as well as a 1,600 foot-long zip wire suspended 50 feet above the ground that plunges riders into the Caribbean Sea.

For more laid-back affairs, passengers can relax on the island's two new beaches, including Chill Island, with its "crystal-clear tropical waters and white powder-like sand", and South Beach for activities from beach volleyball and basketball to glass-bottom kayaking and paddle boarding, or stay poolside at the Oasis Lagoon freshwater pool and the Coco Beach Club offering the first overwater cabanas in The Bahamas

Tremendous views over the island are offered from a helium balloon ride floating 450 feet in the air.

Work on CocoCay will begin in September with the building of a new pier, while the rest of the island's attractions are expected to be completed by 2019, with the construction of the beach club marking the final phase of the transformation.

A near neighbour of Great Stirrup Cay, CocoCay is Royal Caribbean's second private island (also located in what is known as the Berry Island chain - a collection of cays north of Nassau). The Enchantment of the Seas and Majesty of the Seas cruise ships call at the island year-round.