Beachfront and Near Beach Residential Lots for Sale in Vuda Point Road, Lautoka, Ba, Fiji

Beachfront and Near Beach Lots Next to First Landing Resort

First Landing Beach Resort & Villas is offering for sale 6 absolute beach front lots with white sand beach. Each lot is just over a quarter acre in size. The lots are part of a private subdivision next to First Landing Beach Resort & Villas and the Vuda Yacht Marina. The lots may be developed for residential use or part residential and part tourism use. Prices exclude 12.5% value added tax which may be claimed back if the lots have a tourism use component. THE PREVIOUS STAGE OF BEACH FRONT LOTS HAS SOLD OUT AND THESE 6 LOTS ARE THE LAST REMAINING BEACH FRONT LOTS FOR SALE AT FIRST LANDING. First Landing can assist purchasers with obtaining legal advise in Fiji, and recommending architects and builders.

First Landing is located at historic Vuda Point legendary landing site of the first Fijians and is located only 15 minutes from Nadi International Airport and Lautoka City. Denarau Island is only 40 minutes away where there are restaurants, shops, resorts, marina and an international standard 18 hole golf course. First Landing is close to many islands in the nearby Mamanucas with the nearest only 15 minutes away. First Landing was originally a seafood restaurant and has grown into a 40 room resort. There is a restaurant and general store at the adjacent Vuda Yacht Marina. Both First Landing and the Vuda Yacht Marina have future expansion plans. Purchasers buying lots at this time may see opportunity for capital growth as further developments plans are implemented.

The subdivision will have 24 hour security patrol and full services (water, electricity, phone etc). and private access to the beach and First Landing Resort.

Purchasers will receive a native lease title to their tropical garden lot under an arrangement similar to strata title. The term of the sublease will expire on 30 December 2105. Native title comprises approximately 85% of the land in Fiji. All native land in Fiji is administered by the Native Land Trust Board who issues all leases. Many of the large integrated tourism and residential developments in Fiji are on Native Land, including the Sheraton Villas, Hilton Villas, and Radisson Apartments. The nature of the title allows for use as either residential or tourism as the lot is within the First Landing Integrated Tourism and Residential Development at Vuda Point. There is provision in the lease for compensation of improvements on the land if the lease is not renewed at the end of the lease year term in 2105. Purchasers may be allowed the waiver of stamp duty which is 2% of the sale price.

Owners can, in the future, sell their property for which a sale premium is paid to the Native Land Trust Board. This premium for on sale by the owner is 5% of the unimproved capital value if the land is used primarily for residential purposes and 2% of the sale value if the land is used primarily for tourism purposes. Owners can also use the land as security for bank finance. Foreign investors are able to borrow funds in Fiji to purchase their land subject to commercial bank lending policies and requirements in addition to Reserve Bank of Fiji approval. This can reduce currency risk for prospective investors and allow them to take advantage of the tax deductions available on interest. Purchasers who seek to live in Fiji can obtain residential permits.

Annual rent payable to the NLTB is approximately based on $F4,000 per year per acre or part thereof plus a modest contribution to the maintenance of any common areas, removal of rubbish, security services, etc, of $F6,000 per annum. There is provision for 5 yearly rent reviews based on published Fiji Government indices such as CPI. If the lot is used for tourism purposes the annual rent is calculated as a percentage of gross revenue earned (2.75% with future increases up to a maximum of 3.5%).

Also available in this subdivision are Near Beach Lots (quarter to one third acre with beach access) from $FJD 100,000 to $FJD 190,000 depending on size and location, One 2 bedroom Beach Villa on a quarter acre lot and one 2 Garden Villa on a quarter acre lot. Further details and prices on application.