Four approved development sites within a freehold 44.94 hectare master-planned tourism development that includes a marina are for sale on Fiji's Naisoso Island.
"Naisoso Island is located just north of Nadi airport," says Philip Toogood, Bayleys Fiji managing director and partner, who is marketing the sites for sale by tenders closing on July 2.
The development comprises:
a 4.74 ha beachfront development site, ready for immediate commencement of a 178-unit apartment style luxury resort;
a 3.99 ha oceanfront front site set aside for a five-star resort;
a 2.39 ha oceanfront site set aside for a four-star resort; and
a 3094 sq site identified for a wellness and spa centre.
Toogood says the Naisoso Island development also features a waterfront marina retail site, which was recently sold and is now under construction. "This project will see office space, shopping, restaurants and a proposed marina apartment development added to the growing community on Naisoso Island," he says.
"Naisoso Island is an example of the future of integrated Fijian resort development, and one that will create and influence new directions in how Fiji approaches the growing international demand for premium tourism destinations.
"Property developer Bob Lowres is seeking to move forward with the project and has appointed Bayleys to negotiate the sale of the remaining development sites," Toogood says.
"With the majority of the residential home sites on the exclusive island now sold and new multi-million dollar homes starting construction almost weekly, Mr Lowres believes the time is now right to invite other developers to share in the opportunity at Naisoso Island."
Toogood says the development takes advantage of a seaside vista across Nadi Bay and towards the Mamanuca Islands. "The view is quite beautiful and all four sites offered for sale allow for some amazing design possibilities that would be quite different to what's available on Denarau Island."
Toogood sees the timing of the sale coinciding with expanding opportunities within the Fiji tourism development market.
"The growth of Fiji's tourism sector has come in waves. The first wave brought the first large resorts in the 1970s and the second wave saw the emergence of Denarau in the late 1990s.
"The next surge in development is now well underway and is gathering significant momentum. The 2014 Fiji elections delivered confidence and stability to the market and we're seeing some of the original resorts undergoing refurbishment and expansion, along with the emergence of new developments like Naisoso Island."