25km of coast fijian coastline could fetch for more than $14 million.
25km of coast fijian coastline could fetch for more than $14 million.
Rare freehold land covering 25km stretch of Fiji coastline expected to fetch $14m
More than 4000ha of freehold land fronting 25km of Fiji coastline could fetch more than $14 million.
Rick Kermode, a Knight Frank salesman in Auckland, said the 3974ha Tikina-i-ra was unusual because it was such a big site and it was freehold. Only about 8 per cent of land inFiji could be bought outright and was not leasehold, he said.
The land is in two parcels about 15km apart, at the western end of Fiji's second largest island Vanua Levu, about an hour's flight from Nadi or 40 minutes from Suva, Mr Kermode said.
Confidence had returned to Fiji after the election. Local business people and Chinese were buying businesses and big resort stakes, he said, citing the Chinese buying the Fintel property in Suva for FJ$5.2 million ($3.4 million) and a residential site at Hemraj Place reportedly at FJ$1.95 million.
A Perth family, who bought extensive Fiji holdings in the 1960s and 1970s, own Tikina-i-ra which has been on and off the market for the last few years.
Mr Kermode said while some of the 25km coastline had white sand beaches and picturesque sheltered bays, other parts were more tidal with mangroves.
Vegetation is a mixture of pine forest, native forest, coastal mangroves and coconut trees and grassland. An additional 166ha block of land about 15km from the bigger parcel is included in the sale. That surrounds the decommissioned Dama air strip at Koronibelo and it has some mature pines and is relatively flat. Four New Zealand businessmen have joined Americans to develop Vunabaka, a new $140 million Fiji resort, where the first stage of construction is nearly finished: Michael Lucas, former managing director of market research company TNS Conversa, Christian Burtscher, former co-owner of Roundhill ski field at the head of Lake Tekapo, Andrew Griffiths, ex-chief executive of the non-profit SurfAid programme and Keith Gosling, founder of Auckland accounting firm Gosling Chapman, now WHK, are working on a 40ha property where they have a 99-year lease on Malolo Island, 35 minutes by boat or 10 minutes by helicopter from Nadi
But a number of New Zealanders have struck trouble in Fiji including with the development of Neville Mahon's Fiji Beach Resort & Spa and Bridgecorp's Momi Bay.
Fijian sale 4140ha of land in two parcels 3974ha Tikina-i-ra, in 3 titles 166ha parcel, 15km away
