Huge and rare Fiji development landholding for sale.

12:15 PM Friday October 3, 2014 Colin Taylor

Aerial view of the western end of Fiji’s second largest island of Vanua Levu on which a huge 4000 ha landholding called Tikina-i-ra is up for sale.

Following the recent elections in Fiji which have coincided with a boom in the Fijian property market, a huge freehold landing is being offered for sale on Fiji’s second largest island of Vanua Levu.

“A large peninsular area plus nearby land around a decommissioned airstrip are on the market,” says Rick Kermode, Auckland based resort specialist for Knight Frank Ltd, who is offering the property for sale by private treaty, closing on October 31 unless it sell beforehand by negotiation.

Kermode says the larger parcel of land for sale is known as Tikina-i-ra and is made up of three titles totalling about 4050 hectares of prime coastal property.

“Only about 8 per cent of the land in Fiji is freehold so it goes without saying, that this is a rare offering.

“The area has 25 kilometres of coastline made up of sheltered bays and tidal flats with mangroves, white sandy beaches and extensive valleys running up to lofty peaks,” he says.  “As one of Fiji’s largest freehold landholdings, Tikina-i-ra offers a wealth of development opportunities including general tourism, eco adventure tourism or the creation of a private retreat.  

“This property has it all. It is located on the sunny dry side of Vanua Levu and the land area is large enough to support a multitude of uses. Tikina-i-ra is a blank canvas, only limited by the imagination of the purchaser.”

A large sheltered deep water harbour at Koroinasolo is on the boundary of the landholding and there are a number of other bays with open ocean access. The vegetation on the property comprises a mixture of pine forest, native forest, coastal mangroves, coconut trees and grassland areas.

True Commercial online - Tikina-i-ra, Vanua Levu, Fiji, aerial with white boundary line.jpg

High aerial view of section of the Fijian Island of Vanua Levu with the 4000 ha Tikina-i-ra area for sale marked by a white boundary. 

Kermode says an additional 166.7 ha (412 acre) block of land forms part of the offering and comprises an area surrounding the decommissioned Dama air strip at Koronibelo about 15 km from Tikina-i-ra. “This land has some mature pine on it and is relatively flat,” he says.

Kermode says the western end of Vanua Levu is undeveloped and is likely to be the next major area for development in tourism, agriculture and residential.

"The Fijian Government is keen to see this happen and the area is part of a tax free incentive zone providing developers with significant economic incentives. The government is also sealing the road past these sites as part of their push to help develop this region.

“As mentioned, the climate on the western side of the island is generally dryer than the eastern areas of Vanua Levu and is somewhat similar to the western side of Viti Levu that has seen the most tourism development.”

Kermode says Fiji is showing strong signs of recovery with a lot of foreign interest, in particular the Chinese who have recently transacted on The Fintel Property in Suva which sold for a reportedly FJ$5.2 million (NZ$3.4 million) and a residential site at Hemraj Place reportedly at FJ$1.95m (NZ$1.29 million).

Recent sales in the area include 2210 ha of land at Natoavatu Estate in Vanua Levu, which was sold to the Kiribati Government at a reported FJ$15.4 m (NZ$10.2 million) which is to be used to grow crops for the Kiribati people.

Kermode says tourism remains Fiji’s largest business sector. In the 12 month period to July 31 this year visitor numbers to Fiji increased by 0.7 per cent to 669,650 visitors according to the Fiji Bureau of Statistics. “It has also been reported that Fiji Airways proposes to add five aircraft to its fleet over the next three years to keep up with the demand of more passengers,” says Kermode.

“Australians and New Zealanders still remain a big part of the tourism market with a flying time of about three hours from Auckland to Nadi or Suva, and less than four hours from Sydney to Nadi. There are also substantial increases in tourists arriving from South East Asia and China.” 

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Rick Kermode, Knight Frank.